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 (April 13): Malaysian stocks closed lower today due to profit-taking after the surge early this week.
The benchmark FBM KLCI ended the day 5.15 points or 0.28% lower at 1,868.47 points, dragged down by Astro Malaysia Holdings Bhd, Petronas Gas Bhd and MISC Bhd. The index was trading in the range of 1,866.02 points and 1,871.13 points throughout the day.
Market breadth was positive with 513 gainers compared with 323 decliners. A total of 477 counters were unchanged. Trading volume decreased to 2.72 billion shares worth RM2.19 billion compared with 3.27 billion shares worth RM2.34 billion on Thursday.
Public Investment Bank Bhd head of research Ching Weng Jin told theedgemarkets.com that investors decided to take some profits ahead of the 14th General Election on May 9.
“There was no major sell-down today. It (KLCI) didn’t drop much," he said.
“Regional markets looked positive except for China. Even the US-Russia conflict was off the table (and) calm has returned for a while,” Ching added.
Across Asia, Japan’s Nikkei 225 closed up 0.55%, South Korea's Kospi rose 0.51% while Hong Kong's Hang Seng fell 0.07%.
Reuters reported that investors are still keeping an eye on the tensions in the Middle East even after suggestions from US President Donald Trump that a military strike on Syria may not be imminent.
Source: The Edge
Comments
Post a Comment