Malaysia stock market down for four sessions, global concerns, US economy worries

From Nasdaq: 2024-09-08 19:33:58

The Malaysia stock market has dropped for four consecutive sessions, falling 1.6 percent. Concerns over the global economy are prompting a negative outlook for Asian markets. The KLCI ended lower on Friday, with losses from various sectors. Key actives on the market experienced both gains and losses. Wall Street also closed with heavy losses, affecting global markets.

In the US, major indices closed with significant losses last week. The NASDAQ dropped 5.8 percent, the Dow tanked 2.9 percent, and the S&P fell 4.3 percent. Concerns over the US economy persist following a disappointing jobs report, raising speculation about potential Federal Reserve actions. Oil prices also fell to 18-month lows due to demand concerns.

Malaysia will release July unemployment figures today, with expectations for a 3.3 percent jobless rate. The global outlook, influenced by economic data and market trends, will continue to impact Asian markets like Malaysia. Traders are watching closely for developments in the US economy and the actions of central banks to navigate market volatility.



Read more at Nasdaq:: Malaysia Bourse May Extend Losing Streak