Thursday 28 Mar 2024
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KUALA LUMPUR (June 26): The FBM KLCI rose 1.16 points or 0.1% after volatile trade, as Asian shares cut losses. Reuters reported Asian equities fell after reports indicated the US Treasury Department was drafting curbs that would block firms with at least 25% Chinese ownership from buying US tech firms. 

It was reported that US Treasury Secretary Steven Mnuchin later said in a message on Twitter that restrictions would apply, not specifically to China, but "to all countries that are trying to steal our technology".  

At Bursa Malaysia, the KLCI settled at 1,679.26 at 12:30pm. The KLCI rose to its highest so far today at 1,681.54 and fell to its lowest at 1,673.26.

TA Securities Holdings Bhd wrote in a note today: "The overnight correction on Wall Street sparked by fears over wider trade restrictions on technology should spread to the region and locally, to further depress sentiment." 

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