Bursa Malaysia seen set for worst day of 2024 as US recession alarm grows

KUALA LUMPUR, Aug 5 — Bursa Malaysia opened lower today, tracking Wall Street’s weaker performance on Friday night as sentiment was further eroded amid recessionary fears in...

KUALA LUMPUR, Aug 5 — Bursa Malaysia opened lower today, tracking Wall Street’s weaker performance on Friday night as sentiment was further eroded amid recessionary fears in the United States and weaker-than-expected job data for July 2024, a dealer said.

“Back home, the FBM KLCI was not spared either as it dipped to just above the 1,610 mark amid a regional selloff. Among the heavyweights, Maybank and CIMB eased 10 sen to RM10.14 and RM7.30 respectively, Public Bank lost seven sen to RM4.21, Tenaga Nasional was 44 sen lower at RM13.52, and IHH Healthcare lost one sen to RM6.24.

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