Collapse of SVB not expected to have direct or major impact on local bourse, Malaysian companies

Destroyed SVB logo and UK flag is seen in this illustration taken March 13, 2023/REUTERSPix: The collapse of Silicon Valley Bank in the United States will not have a direct or major impact on the local bourse or Malaysian companies, said an analyst.“It may trigger some indirect effects as banks after this issue. Perhaps it may result in the tightening of lending or margin policies regarding crypto markets,” he told Bernama.

“ little impact but we don't need to worry because the US banking system is different from ours. We are more strict, hence the risks are lower. Thong believes the selldown today was unjustified as the Malaysian banking system is highly regulated where asset quality risks are well contained. It closed easier amid mixed sentiment in regional bourses following a heavy global selldown, which saw the benchmark FBM KLCI falling 11.25 points, or 0.79 per cent, to 1,421.83 from Friday's close of 1,433.08.

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