Bursa remains negative despite US regulators' move to support depositors

TheStar Mon, Mar 13, 2023 12:52pm - 1 year View Original


KUALA LUMPUR: The FBM KLCI dove into negative territory as fears of contagion from the collapse of two US lenders spread across the region.

While key Asian markets rebounded on US financial regulators' move to support depositors after the failure of Silicon Valley Bank, a US tech startup lender, Bursa Malaysia failed to capitalise on the hopeful news.

At 12.30pm, the bellwether index was down 12.4 points to 1,420.68 while the market breadth was largely negative with 688 decliners compared with 188 gainers.

Trading volume was 2.26 billion shares valued at RM1.13bil.

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