KUALA LUMPUR: The domestic market dove on Monday as it tracked the ongoing sell-off on Wall Street, sparked by fears the Federal Reserve may have put off interest rate cuts for too long.
At Monday's opening, the FBM KLCI dove 17.69 points to 1,593.36, breaching the 1,600 support level to a five-week low.
The sell-off was widespread with 28 of the 30 component counters deep in the red.
Tenaga Nasional shaved 44 sne to RM13.52, YTL Power dropped 29 sen to RM4.20, and Telekom Mlaaysia fell 18 sen to RM6.72.
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