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📌 Why Are Malaysian Bank Shares Selling Off? (Market Breakdown)
On 7 October, Malaysian banking stocks took a sharp hit, dragging the KLCI down 1.32% (-21.57 points) to 1,611.78—its lowest level in over 10 months. The financial services index plunged 2.51% by midday.
The immediate spark was a JPMorgan downgrade:
• CIMB was downgraded to "underweight"