Bursa ends lower as US bond yields, Fed tightening concerns weigh
At 5pm, the FBM KLCI eased 4.47 points to close 0.26% lower at 1,674.74 points from Tuesday’s close of 1,679.21 points.
KUALA LUMPUR: The main index of Bursa Malaysia experienced a downward trend today following a turbulent trading day, as worries surrounding escalating US bond yields and the potential for additional tightening measures by the U.S. Federal Reserve persisted, according to an analyst. By 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) had slipped 4.47 points, closing 0.26% lower at 1,674.74 points, a decline from Tuesday's close of 1,679.21 points.
The stock exchange remained closed for trading yesterday to mark Malaysia Day. The benchmark index commenced the day 1.71 points lower at 1,677.50, fluctuating between 1,670.75 and 1,684.92 throughout the trading session. Market breadth was unimpressive, with the number of decliners outnumbering gainers by 673 to 465. Notably, 548 counters remained unchanged, while 1,170 shares were untraded and 13 were suspended.
Trading volume edged up to 3.60 billion units valued at RM3.25 billion, compared to 3.34 billion units worth RM3.25 billion on Tuesday.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Bursa ends lower as US bond yields, Fed tightening concerns weigh freemalaysiatoday.com
- Treasury yields move lower after Fed kicks off hiking cycle cnbc.com
