Market opens below 1,600

The Malaysian KLCI today opened below 1,600 for the first time since 2015, contrary to the papers saying that it “rebounded” from the day before.

Quoting the Malay Mail (who took a Bernama piece):

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 6.58 points to 1,599.46, after opening 5.48 points higher at 1,598.36.

The last time Bursa Malaysia dipped this low was in September 2015.

Economists are saying that this is due to the US-China Trade War, and current news of tariffs being imposed by President Trump on goods from China.

Tech, property and banking stocks have all been impacted and shown losses on the Bursa.

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