Bursa Malaysia, regional peers remain under pressure ahead of US debt voting

BURSA Malaysia and the regional bourses sank into the red on Wednesday amid uncertainties over whether the United States (US) Congress would resolve the debt ceiling impasse today.

Hong Kong’s Hang Seng Index led the regional decline, losing 1.94 per cent to 18,234.27, Japan’s Nikkei 225 fell 1.41% to 30,887.88, Singapore’s Straits Times Index eased 0.57% to 3,169.40, and China’s SSE Composite Index dipped by 0.61% to 3,204.56.

The domestic barometer index, the FTSE Bursa Malaysia KLCI (FBM KLCI), ended the day 9.79 points or 0.70% lower at 1,387.12 from 1,396.91 at yesterday’s (May 30) close.

The key index opened 0.23 of-a-point weaker at 1,396.68, and subsequently fluctuated to an intraday low of 1,380.90, or 1.1% lower, and an intraday high of 1,398.38 in the early morning session.

The broader market was bearish with decliners thumping advancers 521 to 360, while 387 counters were unchanged, 980 untraded and 33 others suspended.

Turnover jumped to 3.54 billion units worth RM5.25 bil versus 2.38 billion units valued at RM2.01 bil yesterday. – May 31, 2023

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