Source : The Edge Malaysia
KUALA LUMPUR, Nov 12 – Malaysia’s benchmark FBM KLCI fell 0.58 per cent to a 14-month low of 1,585.96 at the close on Thursday, as reported by The Edge Malaysia, with broad-based selling extending the index’s losing streak to a fourth consecutive session.
How the index traded
The index slid 9.23 points from Wednesday’s close of 1,595.19. It opened 3.61 points lower at 1,591.58 and moved between an intraday low of 1,583.66 and a high of 1,592.89, according to Bernama’s market report. The Edge Malaysia reported that Wednesday’s close was already the lowest in about 14 months, and the first below the 1,600-point level since September 25, 2025. Today’s close is lower again.
Market breadth was negative, with 799 losers against 318 gainers. A further 476 counters were unchanged, 1,181 were untraded and 13 were suspended. Turnover rose to 3.06 billion units worth RM2.56 billion, compared with 2.90 billion units worth RM2.33 billion on Wednesday.
Heavyweights and movers
Among the index heavyweights, Maybank shed four sen to RM9.91 and Tenaga Nasional lost 16 sen to RM12.80. Public Bank was flat at RM4.53, CIMB edged up one sen to RM7.09 and IHH Healthcare gained 11 sen to RM7.84.
United Plantations led the gainers, rising RM1.36 to RM31.60, followed by Malaysian Pacific Industries, which added 22 sen to RM38.52. Kuala Lumpur Kepong climbed 30 sen to RM21.38, Concrete Engineering Products rose 22 sen to RM4.60 and SD Guthrie advanced 16 sen to RM6.15. On the losing side, Nestle fell 60 sen to RM94.94, Fraser & Neave dipped 40 sen to RM20.14, UWC lost 31 sen to RM6.37, Ranhill Utilities sank 30 sen to RM2.90 and Hong Leong Industries gave up 40 sen to RM16.40.
What analysts say
Mohd Sedek Jantan, director of investment strategy and country economist at IPPFA, said the FBM KLCI fell to a year-to-date low as mounting external uncertainties triggered further risk reduction across Malaysian equities. He pointed to renewed concerns over stretched valuations in artificial intelligence-related stocks, a more hawkish US Federal Reserve rate outlook and stalled diplomatic negotiations between the United States and Iran.
He said the index’s failure to reclaim the psychologically important 1,600 level reinforces its near-term bearish outlook, with the next downside support levels at 1,575 and 1,550.
Thong Pak Leng, vice-president of equity research at Rakuten Trade, said investors are likely to remain cautious in the near term, as persistent selling in banking stocks and other heavyweights suggests market confidence remains fragile. He nevertheless said Malaysia’s underlying economic fundamentals remain resilient and corporate earnings prospects are generally stable.
“More importantly, the recent correction has brought valuations of selected blue chips to increasingly attractive levels, particularly banking stocks, which offer healthy prospective dividend yields,” he said. “From a technical perspective, the FBM KLCI is approaching oversold territory, which could encourage bargain hunting at current levels.”
Apex Securities said earlier in the day that stronger-than-expected US inflation had reinforced expectations of a Fed rate hike in December, which could limit foreign fund inflows into emerging markets. It added that investors are likely to take a selective approach ahead of the third-quarter 2026 earnings season, and that the Melaka state election on November 14 could add to near-term uncertainty.
Source: The Edge Malaysia, Bernama.
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