Bursa Malaysia continued its downtrend with over 800 stocks falling into the red, as another hawkish US jobs report quelled expectations that interest rates in the world's largest economy will stay higher for longer.
Malaysia's benchmark FBM KLCI jumped 19.39 points to 1,583.02, below the 1,600 psychological support.
Meanwhile, the broader market was battered with 884 stocks falling and only 180 gaining.
Volume was 1.8 billion shares changing hands for RM1.22 billion.
Economists have downgraded their forecasts for a Federal Reserve rate cut in 2025, with Reuters reporting Barclays' latest forecast is just one 25 basis point cut in June.
Meanwhile, expectations of a better US economic performance and a stronger US dollar continue to drain funds from emerging markets including Malaysia.
In the previous trading week, Bursa Malaysia recorded its 12th consecutive week of net foreign outflows of RM502.2 million.
There was a sharp sell-off in YTL Power, plunging 27 sen to RM3.98, CIMB fell 18 sen to RM8 and Gamuda fell 18 sen to RM4.82.
Nestle fell RM1.46 to RM93.54, while Sunway fell 22 sen to RM4.40.
