Bursa Malaysia ends at intraday low weighed by US bank crisis

BURSA Malaysia ended lower for the fifth consecutive day on Tuesday following mixed cues on Wall Street overnight as investors dealt with the fallout from failed banks in the United States, including Silicon Valley Bank, said an analyst.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 28 points or 1.97% to 1,393.83 from Monday’s close of 1,421.83 after hitting an intraday low today and a near five-month low.

The key index opened 4.87 points easier at 1,416.96, which was its intraday high, and continued to slide throughout the day.

Market breadth was negative with losers outpacing gainers 878 to 180 while 296 counters were unchanged, 893 untraded and 11 others suspended.

Turnover amounted to 3.38 billion units worth RM2.50 bil. – March 14, 2023

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