‘Black Monday 2.0’ caused foreign investors to yank RM770m from Bursa Malaysia last week

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KUALA LUMPUR, Aug 12 — Malaysia was not a benefactor from the recent turbulence on Wall Street sent ripples across globa...

A perfect storm of rising interest rates in Japan, lowered earnings from diminishing optimism towards artificial intelligence (AI), and signs of a possible recession in the US caused a massive global selloff last week that exceeded that of the 1987 Black Monday crash.

They accumulated a net RM1.19 billion in equities over the week, with net buying recorded every day.

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Article Details

Author / Journalist: Justin Ong

Category: EconomyBusiness

Markets: MalaysiaJapan

Topics: Bursa Malaysia Stock market Stocks Shares

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-12 @ 10:21:31 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 257 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Malay Mail

News ID: 22024749

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