Threat of economic slowdown foils rally


KUALA LUMPUR: Bursa Malaysia tracked Wall Street lower as the US braces for an expected economic slowdown near year.

US major indices were positive for most the overnight session but descended rapidly after Apple Inc announced it would slow hiring and cut capex in certain divisions to cushion itself from the effects of a sluggish economy in 2023.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Bursa Malaysia , FBM KLCI , equities

Next In Business News

Airbus confirms cancellation of AirAsia X order for 15 A330-900 aircraft
Dollar on the defensive ahead of first Fed decision under Warsh
Singapore's May exports rise bigger-than-expected 38.4% y-o-y, boosted by AI demand
Japan's exports beat forecast in May on strong chip demand
Heavyweight buying lifts Bursa Malaysia
Activity recovery to spur�O&G jobs
Scanwolf wins RM75mil apartment job
Vantris to exit PN17 status tomorrow
Ringgit closes lower against the greenback
Sime Darby dethrones Maybank in Fortune ranking

Others Also Read