The U.S. dollar fell sharply Thursday as traders rushed into traditional safe havens like the Japanese yen and Swiss franc, reacting to President Trump’s sweeping new tariff package that intensified fears of a global economic slowdown. Key Market Reactions Currency Move Against USD Japanese Yen (JPY) +0.95% (¥147.99) Swiss Franc (CHF) +0.60% (CHF 0.8787) Euro (EUR) +0.43% (US$1.0875) British Pound (GBP) +0.28% (US$1.3047) Chinese Yuan (CNH) Hit 1-month low offshore Australian Dollar -0.5% (US$0.6268) NZ Dollar -0.26% (US$0.5730) Mexican Peso -0.25% (20.2520 per USD) What Triggered the Move? President Trump announced a 10% universal tariff and higher duties on ~60 countries. Tariffs target major trading partners including China (54%) , Vietnam , Japan , and the EU . Investors fear an escalating global trade war , causing a flight to safety . “The markets are in risk-off mode and pricing in weaker global economic growth.” — Kyle ...
KUALA LUMPUR (Oct 30): The FBM KLCI climbed 2.22 points or 0.1%, lifted by oil and gas and plantation-linked counters and as investors reacted positively to Malaysia's Budget 2018.
At 5pm, the KLCI closed at 1,748.35 points on gains in stocks like Petronas Dagangan Bhd, Petronas Chemicals Group Bhd, Sime Darby Bhd and Kuala Lumpur Kepong Bhd (KLK).
“The market is reacting positively to the Budget,” Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com.
Across Bursa Malaysia, 2.88 billion shares valued at RM2.15 billion exchanged hands. Gainers led decliners by 489 to 380 respectively.
Top gainers included Nestle (M) Bhd and Carlsberg Brewery Malaysia Bhd.
Source: The Edge
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