Bursa falls as US markets slide forward of prolonged weekend

KUALA LUMPUR: Bursa Malaysia began on a bitter be aware on Friday following the heavy promoting on Wall Road in a single day as traders cashed out forward of the Good Friday weekend.

At 9.05am, the FBM KLCI was down 1.89 factors to 1,593.81, reflecting the continuing concern over aggressive rate of interest hikes deliberate by the Federal Reserve and rising US Treasury yields.

“Given the international funds offloaded among the

equities earlier this week, we anticipate the native bourse to commerce in a negative-biased tone for at this time.

“Moreover, the destructive efficiency on Wall Road in a single day might expedite the revenue taking actions on the native entrance,” stated JF Apex Analysis in a be aware.

Financial institution shares remained wobbly with Maybank falling two sen to RM8.81 and CIMB sliding 5 sen to RM5.09.

Press Steel additionally shaved two sen to RM6.58 whereas IHH shed one sen to RM6.51.

In the meantime, tech counters contiued to slid because the Nasdaq dove over 2% within the in a single day session.

MPI fell 60 sen to RM32.60, Vitrox slipped 10 sen to RM7.40 and Unisem fell 5 sen to RM4.25.

Amongst high actives, KGroup was unchanged at one sen, SMTrack rose 0.5 sen to eight.5 sen and Datasonic gained 1.5 sen to 51 sen.


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