FBM KLCI slides in early trade, tracking overnight Wall Street losses

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FBM KLCI slides in early trade, tracking overnight Wall Street losses
FBM KLCIKLCIBursa Malaysia
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Antara, a local news agency, reported that 36-year-old Giulia Manfrini had been surfing at around 9.30am when the freak accident occurred.

KUALA LUMPUR: The FBM KLCI traded lower early Thursday as Wall Street declined overnight, with investors on edge about the Fed's rate-cut outlook in the coming months and the upcoming US presidential election.

SPI Asset Management managing partner Stephen Innes said as US election uncertainty grows, markets are increasingly factoring in the possibility that Trump's return could upend current assumptions, fueling volatility and prompting a shift in sentiment. “It's no surprise that global markets are starting to reflect these jitters. Profit-taking and risk reduction tend to hit the most profitable corners first, and on Wednesday, it was the mega-cap stocks that felt the squeeze, along with gold,” Innes said.

Furthermore, there are also few leads from the recently unveiled Malaysian Budget 2025 that could still cause more market players to remain on the sidelines.

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