For markets in Malaysia, this contagion risk appears to be controlled and it does not appear to be spreading to the broader real local economy at the moment, said Lee.
KUALA LUMPUR: The ghosts of the 2008 global financial crisis (GFC) which sparked a strong sell-off in stocks worldwide beginning with US equities continue to remain a vivid memory in the minds of many investors.
The Silicon Valley Bank (SVB) crisis, which was recently sparked by rising bond yields due to the continued expectations of interest rate hikes from the Federal Reserve (Fed), appears to be frequently associated with this and is being labelled as the “second biggest financial event” after the GFC.
