KUALA LUMPUR: Bursa Malaysia closed in the red amid tensions in the Middle East causing investors to turn away from risky assets.
At 5pm, FTSE Bursa Malaysia (FBM) KLCI was down 1.03 per cent per cent or 17.08 points to close at 1,639.31 versus 1,656.39 points on Tuesday.
It opened at 1,642.78 and moved between 1,633.08 and 1,647.30 throughout the day.
The broader market saw decliners trumped gainers 874 to 270 while 467 counters were unchanged.
Malacca Securities said the key index saw a large pullback, as banking heavyweights like Public Bank Bhd and CIMB Group Holdings Bhd dragged down sentiment on the local front.
"This was in line with the negative US overnight performance amid heightened geopolitical tension in the Middle East," it said.
It added all sectors were negative except for the energy sector, led by Yinson Holdings Bhd and Dialog Group Bhd, as Malaysia's energy firms might benefit from the higher crude oil price environment amid the recent Iran strike on Israel.
On the index board, FBM100 and FBM Emas dropped 1.04 per cent to 11,961.02 and 12,26615 respectively. FBM Ace shed 1.68 per cent to 5,125.82.