Malaysian shares crashed on Tuesday, falling more than 1% at the close, as a market selloff extended on increasing worries about US recession amid the ongoing trade war.
The benchmark FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 16.31 points to end 1.06% lower at 1,520.15. The day range was between 1,514.48 and 1,527.19.
In economic news, the unemployment rate in Malaysia edged down to 3.1% in January 2025 from 3.3% in December 2024, data from the Department of Statistics, Malaysia showed.
In company news, JF Technology (KLSE:JFTECH) closed 1% lower on Tuesday, as it signed a share purchase agreement to acquire an 80% stake in Singapore-based Q3 Probe from Spire Manufacturing for 6 million ringgit.
Shares of IHH Healthcare (SGX:Q0F, KLSE:IHH) fell nearly 1% at the close in Malaysia, as it issued 10,000 shares at 5.92 Malaysian ringgit each pursuant to the exercise of options under the company's 2022 Enterprise Option Scheme.
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