The FBM KLCI gave back Tuesday’s bounce on Wednesday, 23 September 2026. The index closed at 1,676.43, down 7.07 points or 0.42% from 1,683.50. Open 1,682.19, high 1,685.37, low 1,675.15. Two-day winning streak snapped. Midday it had clawed back to flat at 1,683.54; the afternoon faded.
Breadth almost even: 519 gainers vs 549 losers. Turnover 3.20 billion shares, value RM2.99 billion. Petrochemicals and energy-linked names lagged as oil kept sliding.
Movers and Shakers
Midday snapshot (still the best published tape):
- MPI +78 sen toward RM43.98
- Nestlé +36 sen toward RM89.52
- KESM +31 sen
- Petronas Gas +28 sen
- F&N +26 sen
Losers / pressure names: Heineken, BLD Plantation, Hong Leong Bank, United Plantations, Vitrox. Actives: Zetrix AI softer toward 19 sen; AirAsia and Capital A eased. Telcos/utilities (Maxis, Tenaga) supported the morning repair.
Policy and global cues (on/before 23 Sep 2026)
No BNM move. OPR still 2.75%. Fed funds 3.75–4.00%; futures still priced more than 50% odds of further 2026 hikes.
Oil / Iran: Brent slipped toward US$98–99 after Trump said US–Iran talks at the UN were “very good.” Saudi East–West pipeline / Yanbu flow talk also cooled the premium. That is good for inflation optics and the ringgit (opened firmer near 4.07), bad for PChem and refiners.
Trump–Xi: still the week’s event. Xi due in Washington; markets treating an extended trade truce as the base case. TA: wait-and-see; resistance 1,722, support 1,655.
Read-through
Tuesday’s 1,684 high did not hold. 1,675 is the new local floor. Range stays 1,670–1,700 until oil and the Washington meeting give a clearer tape. Semis (MPI) still bid; energy is the drag.
Support: 1,675 then 1,661. Resistance: 1,684–1,700.