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) -...
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| FBM KLCI closed 2.02 points higher |
If you have been following the Bursa Malaysia, you would probably be disappointed almost the entire day until the closing. The FBM KLCI was basically heading south the entire day before it turns green during the closing period.
FBM KLCI rose 2.02 points or 0.1% after China's state margin lender resumed short-term loans and reduced borrowing cost for brokerages.
Investors take margin loans to invest in shares or funds.
At 5pm, the KLCI closed at 1,718.36 points. The index erased losses at the 11th hour, after falling to an intraday low at 1,707.11.
In China, the Shanghai Composite rose 2.15%, while Hong Kong's Hang Seng added 0.06%. Japanese share markets were closed for a public holiday.
Reuters reported that China financial stocks such as brokerages led indexes higher, with the CSI300 financial sub-index gaining 3.3%.
On Bursa Malaysia, 2.01 billion shares, worth RM2.05 billion, exchanged hands. Gainers outnumbered decliners at 442 to 436.
Top gainer was Nestle (M) Bhd, while Petronas Gas Bhd was the biggest decliner. Hubline was the most actively-traded stock.
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