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) -...
The FBM KLCI index gained 11.28 points or 0.69% on Thursday. The Finance Index increased 0.52% to 14353.88 points, the Properties Index dropped 0.00% to 1129.57 points and the Plantation Index rose 0.53% to 7742.89 points. The market traded within a range of 7.66 points between an intra-day high of 1643.75 and a low of 1636.09 during the session.
Actively traded stocks include HSI-H57, HSI-C48, RGB, AIRASIA, HSI-H63, ASIABIO, MNC, TENAGA, ANZO and KNM. Trading volume increased to 1092.23 mil shares worth RM1568.39 mil as compared to Wednesday’s 1040.92 mil shares worth RM1373.57 mil.
Leading Movers were AMMB (+27 sen to RM4.45), AXIATA (+22 sen to RM4.64), ASTRO (+13 sen to RM2.78), SKPETRO (+7 sen to RM1.55) and YTL (+5 sen to RM1.58). Lagging Movers were PETGAS (-22 sen to RM21.28), MAXIS (-2 sen to RM6.05), PBBANK (-2 sen to RM19.62), TM (-0 sen to RM6.11) and IHH (-0 sen to RM6.40). Market breadth was positive with 390 gainers as compared to 313 losers.
The KLCI surged with last minute spike to 1643.42 points amid overnight gains in US markets. The performance of our local bourse was in tandem with most of our regional peers following Wall Street strode to another record.
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