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 4): The FBM KLCI fell 6.59 points or 0.4% with Asian
markets after North Korea fired a missile, which led to geopolitical
concerns.
At Bursa Malaysia, the KLCI finished at 1,762.08 points at 5pm. Across Asian share markets, Japan’s Nikkei 225 fell 0.12% while Hong Kong’s Hang Seng was down 1.53%.
US markets are closed on Tuesday for the Independence Day holiday.
In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com that it was generally a “down day” for Asia.
Reuters reported that Asian shares had turned lower as earlier gains were quashed by tensions on the Korean peninsula after North Korea fired a missile that landed in Japanese waters, deepening concerns over the isolated nation's nuclear capabilities.
Across Bursa Malaysia, 1.9 billion shares worth RM1.8 billion were traded. Decliners outpaced gainers at 456 against 340 respectively.
Petroliam Nasional Bhd (Petronas)-linked counters Petronas Gas Bhd, Petronas Chemicals Group Bhd and Petronas Dagangan Bhd were among top decliners as investors took profit today on their gains.
Source: The Edge
At Bursa Malaysia, the KLCI finished at 1,762.08 points at 5pm. Across Asian share markets, Japan’s Nikkei 225 fell 0.12% while Hong Kong’s Hang Seng was down 1.53%.
US markets are closed on Tuesday for the Independence Day holiday.
In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com that it was generally a “down day” for Asia.
Reuters reported that Asian shares had turned lower as earlier gains were quashed by tensions on the Korean peninsula after North Korea fired a missile that landed in Japanese waters, deepening concerns over the isolated nation's nuclear capabilities.
Across Bursa Malaysia, 1.9 billion shares worth RM1.8 billion were traded. Decliners outpaced gainers at 456 against 340 respectively.
Petroliam Nasional Bhd (Petronas)-linked counters Petronas Gas Bhd, Petronas Chemicals Group Bhd and Petronas Dagangan Bhd were among top decliners as investors took profit today on their gains.
Source: The Edge
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