KUALA LUMPUR, March 16 ― Bursa Malaysia ended the morning trading session lower in tandem with the weaker regional market performance due to renewed selling in the global banking sector, said an analyst.
The key index opened 3.11 points easier at 1,400.82 and subsequently moved between 1,391.04 and 1,403.93 throughout the session. After the collapse of Silicon Valley Bank and Signature Bank, the crisis at Credit Suisse Group AG is making the headlines as the Saudi National Bank would not provide further financial help for the bank.“Thus, the local bourse may trade in consolidation mode prior to the United States’ interest rate decision next week,” the brokerage said.
In the meantime, Bursa heavyweights Maybank fell five sen to RM8.30, CIMB lost six sen to RM5.17 and TNB went down four sen to RM9.38, while Public Bank and Petronas Chemicals advanced one sen to RM3.96 and RM7.01, respectively.