US Shutdown: Bursa Malaysia reacts

Despite the last-minute appeal by President Barack Obama, the US government has begun a partial shutdown after the Republican-led House of Representatives refused to approve a budget for next year.

It is the US government's first partial shutdown in 17 years.

AWANI Business desk brings the latest highlights from Bursa Malaysia and other Asian markets.

Bursa Malaysia fell slightly after 12 noon where it was closed for noon break at -0.11% minus 1.97 points.

Morning High was recorded at 1770.05 just before 12 noon where the Low was 1759.66 around 9 am.

Other Asia Indices are in the positive, except Hang Seng and Kosdaq.

Now, read more on the partial US government shutdown. President Obama's healthcare reforms are a major bone of contention for the House of Representatives to pass the budget.

AFP reports: The White House budget director late Monday ordered federal agencies to begin closing down after Congress failed to pass a budget to avert a government shutdown.

"Agencies should now execute plans for an orderly shutdown due to the absence of appropriations," said Sylvia Mathews Burwell, director Of the White House Office of Management and Budget in a memo.

The order was issued 10 minutes before the US government officially ran out of money after a day of angry brinkmanship between the Republican-controlled House of Representatives and the Senate, where Democrats have the majority.

Burwell urged Congress to pass a temporary operating budget as soon as possible to allow departments to reopen.

"We urge Congress to act quickly to pass a Continuing Resolution to provide a short-term bridge that ensures sufficient time to pass a budget for the remainder of the fiscal year, and to restore the operation of critical public services and programs that will be impacted by a lapse in appropriations."

US stocks Monday retreated as a partial US government shutdown loomed due to Washington political gridlock over a new budget.

The Dow Jones Industrial Average was down 128.57 points (0.84 percent) to 15,129.67.

The broad-based S&P 500 dropped 10.20 (0.60 percent) to 1,681.55, while the tech-rich Nasdaq Composite Index gave up 10.12 (0.27 percent) at 3,771.48.