Fresh fears for markets as Credit Suisse comes under scrutiny

TheStar Thu, Mar 16, 2023 09:16am - 1 year View Original


KUALA LUMPUR: Bursa Malaysia is expected to remain volatile as US markets came under pressure overnight on fears over funding support for a major Swiss bank.

Investors are fretting over the financial status of Credit Suisse, Switzerland's second-largest bank, as its largest investor said it could not provide any more funding to the lender.

The US Dow Jones Index shed 0.9% or 280 points in the recent session as all eyes have turned to the Swiss central bank for affirmation that it would provide Credit Suisse with more liquidity if it were required.

At the open, the FBM KLCI dropped 3.11 points to 1,400.82 as it struggled to hold on to the psychological support amid the ongoing fallout in the global financial sector.

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