KUALA LUMPUR: Bursa Malaysia experienced a bloodbath on Black Monday, plunging to a near four-month low as relentless selling pressure mirrored bearish regional markets. Fears of a potential U.S. recession sent investors rushing from risk.
At the close, the FBM KLCI plunged 74.57 points or 4.63% to 1,536.48, recovering from an intraday low of 1,532.24. The slide is the biggest since falling 4.77% on March 16, 2020.
Losers thumped gainers at 1,659 to 83 while 131 counters were unchanged. Turnover surged to 9.26 billion securities valued at RM7.97bil.
Dealers expect the local bourse to stay in bearish consolidation as fears of a potential U.S. recession drive investors away from risk assets.
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