Stock market hits over 3-month low

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

The Malaysian index fell nearly 0.5% to its lowest since Dec 20, before paring some of the losses.

Banking stocks were among the biggest drags on the index with Public Bank Bhd dropping 1.2% and CIMB Group Holdings Bhd falling to its lowest in a year.

Meanwhile, data from the US showed that consumer confidence declined in March with homebuilding falling more than expected in February, pointing towards a slowdown in economic activity. “Soft economic data reminded us that a global cyclical downswing is hitting the US as well, although to a lesser extent,” said Margaret Yang, markets analyst at CMC Markets, Singapore, in a note.

In Indonesia, consumer staples and real estate stocks weighed most on the benchmark index. It fell 0.2%.Yesterday, Vietnam Ministry of Planning and Investment said the country received $4.1 billion in foreign direct investments in the first quarter of this year, up 6.2% from a year earlier. Singapore’s index was up 0.3%, buoyed by financials stocks. United Overseas Bank Ltd rose as much as 1% while DBS Group Holdings Ltd added 0.6%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines