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) -...
KUALA LUMPUR (July 27): The FBM KLCI rose 4.07 points or 0.2% with Asian shares after the US Federal Reserve left interest rates unchanged.
A 5pm, the KLCI closed at 1,770.07 points The KLCI traded between its intraday high and low at 1,772.03 and 1,765.84 points respectively.
“The higher movement is in line with the rest of Asia after the Federal Reserve's decision,” Mercury Securities Sdn Bhd research head Edmund Tham told theedgemarkets.com.
Across Asian share markets, Japan’s Nikkei 225 rose 0.15% while Hong Kong’s Hang Seng gained 0.71%. South Korea’s Kospi increased 0.36%.
Reuters reported that stocks, bonds and commodities were all on a roll on Thursday as bulls scented a softening in the Federal Reserve's confidence on inflation that promised to keep US interest rates low for longer.
The Federal Reserve kept its benchmark lending rate in a target range of one percent to 1.25 percent, as expected, and said it was on track to continue the slow path of monetary tightening that has lifted rates by a percentage point since 2015.
At Bursa Malaysia today, 1.59 billion shares worth RM1.97 billion were traded. There were 400 gainers and 381 decliners.
CIMB Group Holdings Bhd was a notable stock today. CIMB shares rose 19 sen to close at RM6.59 to become Bursa Malaysia's sixth-largest gainer.
CIMB, which was also the sixth most-active stock, saw some 25 million shares traded.
Source: The Edge
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