Wall Street's optimism vanished late Wednesday as President Trump’s sweeping new tariffs triggered a sharp selloff in U.S. equity futures and a flight to safe-haven assets, casting a shadow over global trade outlook and corporate margins. Key Market Moves Instrument Move S&P 500 Futures -3.5% Nasdaq 100 Futures -4.5% Treasury Futures Surged (Yields fell sharply) Japanese Yen Gained as safe haven AUD & NZD Bonds Rallied Tariff Summary A 10% baseline tariff on all U.S. imports. Additional tariffs on ~60 countries, with higher duties targeting China, EU, and Vietnam . Steel and aluminum imports spared from the new round but remain under existing 25% duties. “Eye-watering tariffs scream ‘negotiation tactic,’ which will keep markets on edge for the foreseeable future.” — Adam Hetts, Janus Henderson Investors Sector Impact Major declines hit consumer, tech, and industrial names: Company Sector Move Nike, Gap, Lululemon Retail (Vietnam-based) -...
Just this morning, Malaysians were greeted with a good news,
the oil rally of 6% and it already feels like it’s gonna be a good day for the
market.
 |
| FBM KLCI closed marginally higher while Asian stocks dropped |
Well, it did, at least for a start but as at 5pm, FBM KLCI
closed at 1,677.28 points on profit taking after reaching an intraday high at
1,685.88.
In the Asia region, Japan's Nikkei 225 fell 0.37%, South Korea's
Kospi dropped 0.11%, while Hong Kong's Hang Seng down to 0.25%.
The oil rally on Monday that had boosted global equity
markets made a U-turn. US front-month West Texas Intermediate (WTI) crude
futures were trading at US$32.72 per barrel at 0753 GMT, down 67 US cents from
Monday's settlement.
International benchmark Brent was also down 61 US cents at
US$34.08 a barrel.
On Monday, we have seen oil prices jumped to as much as 7%
as there are speculations over the falling US shale output fed the notion that
crude prices may be bottoming after their 20-month collapse.
In Europe, Euro and sterling were hit by uncertainty over Britain's membership of the European Union.
The top gainer was Panasonic Manufacturing Malaysia Bhd while the leading decliners included Nestle (M) Bhd and Cycle & Carriage Bintang Bhd. The most active stock was APFT Bhd.
Comments
Post a Comment