Bursa Malaysia retreats as US inflation weighs on global equities

KUALA LUMPUR: Bursa Malaysia is expected to react negatively to the sharp decline on Wall Street overnight following the release of higher-than-expected inflation data, which could decrease the number of rate cuts planned by the Federal Reserve for this year.

"After the adverse updates from Wall Street, we foresee the pessimistic sentiment will trickle down into the local stock market," said Apex Securities Research in a note.