Bursa Malaysia tumbles nearly 1pc as weak China data and US credit downgrade spook investors

AI Summary

Bursa Malaysia closed lower on Monday, tracking weak Asian markets influenced by poor Chinese economic data and the US credit rating downgrade. The FBM KLCI dropped 15.61 points to 1,556.14. Market breadth was negative, with losers outnumbering gainers. Analysts view the dip as a buying opportunity, particularly for high-dividend blue-chip stocks like banks and utilities. Despite the sell-off, trading volume remained healthy, suggesting continued investor interest. Experts remain cautiously optimistic about the market, citing Malaysia's strong economic fundamentals.