KUALA LUMPUR, Nov 12 (Bernama) -- Bursa Malaysia extended its losing streak for a fourth consecutive session, closing lower on Thursday amid continued broad-based selling that weighed on market sentiment, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 9.23 points or 0.57 per cent to 1,585.96 from Wednesday's close of 1,595.19. The benchmark index opened 3.61 points lower at 1,591.58 and fluctuated between an intraday low of 1,583.66 and a high of 1,592.89 throughout the day. Market breadth remained negative with losers thumping gainers 799 to 318, while 476 counters were unchanged, 1,181 untraded and 13 suspended. Turnover climbed to 3.06 billion units valued at RM2.56 billion compared with yesterday’s 2.90 billion units valued at RM2.33 billion.
Global equities found temporary footing after oil prices retreated, but volatility remains elevated as the US–Israeli war with Iran continues to cloud the outlook for inflation and growth. While reports of a potential historic oil reserve release helped calm markets, investors remain focused on whether energy disruptions will persist — and for how long. Key Takeaways Shares rebound as oil pulls back from recent highs Brent crude volatile around US$87 per barrel Dollar remains the dominant safe-haven asset Bond yields steady but inflation fears linger Markets trading on headlines, not long-term outlook Oil Turbulence Drives Market Mood Brent crude swung between gains and losses, trading around US$87 per barrel, while US crude hovered near US$83. The pullback followed a report that the International Energy Agency proposed its largest-ever oil reserve release to ease supply pressure. However, markets remain sensitive to any signs of prolonged disruption through the Strait of Hormuz. Analy...