KUALA LUMPUR, Sept 8 — Bursa Malaysia ended the morning trading session today slightly lower, with the key index moving in a tight range amid selling in selected heavyweight counters, dealers said.
After opening 1.76 points easier at 1,581.72, the FBM KLCI moved between 1,580.67 and 1,586.71 during the morning session. ActivTrades trader Anderson Alves said Asian equities were weak on Wednesday, following a negative handover from Wall Street amid weakness in the cyclical sectors, rising US Treasury yields, and a Bitcoin sell-off. “Some signs of potential headwinds for the US economy are beginning to emerge, which will be closely watched in Asia,” he noted.
On the China front, he noted that the country’s banking sector is likely to take a hit as China’s crackdown continues. It was reported that Chinese commercial banks that have not set up a wealth management subsidiary may not be allowed to add new wealth management services as officials try to limit financial risks coming from the sector, he shared.
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