Bursa Malaysia erased gains of the last three sessions on Wednesday, tracking regional losses. The sentiment was downbeat because of rising oil prices amid geopolitical conflicts.

The blue-chip index FBM KLCI slid 1.3% or 21.6 points to end at 1,611.78.

The World Bank has upgraded its 2026 economic growth forecast for Malaysia to 5.1% from 4.4% in April, after growth came in stronger than expected in the first half of the year, according to its latest East Asia and Pacific economic update. The organization also raised its 2027 GDP growth forecast to 4.7% from 4.4% and expects growth to ease to 4.5% in 2028, compared with 5.2% in 2025.

In corporate news, shares of SMRT Holdings (KLSE:SMRT) closed flat, as it applied to Bursa Securities for the proposed transfer of its listing from the ACE Market to the Main Market of Bursa Malaysia Securities.

Meanwhile, shares of PJBumi (KLSE:PJBUMI) gained over 1% on close today after it received approval from Bursa Malaysia Securities for the proposed share split