IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan said Trump’s speech struck a disappointing tone.
Despite the elevated expectations, Trump offered little clarity on the geopolitical trajectory in the Middle East.
He added that the weakness on Bursa was mirrored across the region, with selling pressure evident in major Asian markets.
“Investor sentiment deteriorated as earlier expectations of a near-term resolution to the Iran conflict gave way to renewed uncertainty.
“The lack of visibility on the reopening of the Strait of Hormuz further compounded concerns, particularly given the sensitivity of energy markets to prolonged supply disruptions,” he told Bernama.
Trump also signalled the potential for more aggressive action against Iran over the next two to three weeks, but provided no clear framework for de-escalation.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 10.60 points, or 0.62%, to 1,698.30 from Wednesday’s close of 1,708.90.
The benchmark index opened 3.14 points firmer at 1,712.04, and moved between 1,688.89 and 1,712.80 throughout the day.
Market breadth was negative with 744 losers outpacing 374 gainers, while 436 counters were unchanged, 1,094 untraded, and 11 suspended.
Turnover slipped to 3.20 billion units worth RM3.50 billion from yesterday’s 3.58 billion units worth RM3.56 billion.
Among heavyweights, Maybank slipped 20 sen to RM11.46, Public Bank lost 6 sen to RM4.71, CIMB shed 12 sen to RM7.59, Tenaga Nasional slid eight sen to RM14.00, and IHH Healthcare eased two sen to RM8.94.
On the most active list, V.S. Industry edged down 1.5 sen to 18.5 sen, Top Glove added 10 sen to 76 sen, Sunway Healthcare trimmed 13 sen to RM2.00, Zetrix AI inched down 0.5 sen to 75 sen, and AirAsia X fell 7 sen to RM1.14.
Among top gainers, Petronas Chemicals jumped 57 sen to RM5.97, Concrete Engineering Products surged 56 sen to RM2.43, Kuala Lumpur Kepong climbed 36 sen to RM21.88, and Ta Ann put on 25 sen to RM5.56.
As for top losers, Nestle erased RM1.90 to RM98.80, Petronas Dagangan slumped 90 sen to RM21.10, Malaysian Pacific Industries dipped 88 sen to RM29.08, and United Plantations declined 80 sen to RM34.00.
On the index board, the FBM Top 100 Index decreased 60.58 points to 12,257.01, the FBM Emas Index shaved off 63.04 points to 12,388.62, the FBM 70 Index slid 15.46 points to 17,086.89, the FBM Emas Shariah Index inched down 2.76 points to 12,196.92, and the FBM ACE Index shrank 80.21 points to 4,270.14.
By sector, the financial services index tumbled 324.00 points to 20,138.25, while the industrial products and services index climbed 1.52 points to 183.40, the energy index added 14.31 points to 806.63, and the plantation index soared 124.08 points to 9,090.35.
The Main Market volume declined to 2.20 billion units valued at RM3.32 billion from Wednesday’s 2.29 billion units valued at RM3.36 billion.
Warrants turnover dwindled to 786.65 million units worth RM107.48 million from 1.03 billion units worth RM123.91 million previously.
The ACE Market volume decreased to 212.94 million units valued at RM77.68 million from 262.88 million units valued at RM102.19 million yesterday.
Consumer products and services counters accounted for 242.33 million shares traded on the Main Market, industrial products and services (492.01 million), construction (164.10 million), technology (170.49 million), financial services (88.72 million), property (161.91 million), plantation (71.62 million), real estate investment trusts (17.70 million), closed-end fund (13,900), energy (280.32 million), healthcare (410.01 million), telecommunications and media (24.25 million), transportation and logistics (30.74 million), utilities (37.77 million), and business trusts (4.0 million).