Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin
KUALA LUMPUR (Aug 2): Bursa Malaysia erased Monday's (Aug 1) gains to finish in the negative territory on Tuesday, succumbing to profit-taking in selected plantation counters and in line with the weaker regional market performance.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 7.02 points or 0.47% weaker to close at 1,495.05 from Monday’s close of 1,502.07.
The benchmark index, which opened 0.74 of-a-point lower at 1,501.33, moved between 1,490.72 and 1,503 throughout the day.
Market breadth was negative with 698 losers against 228 gainers, while 363 counters were unchanged, 954 untraded, and 18 others suspended.
Total turnover increased to 2.85 billion units worth RM1.59 billion from 2.38 billion units worth RM1.49 billion on Monday.
Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng told Bernama that regionally, the key indices also closed sharply lower following the mildly negative cues from global markets overnight, amid declining oil prices.
Meanwhile, investors were cautious over the escalation in Sino-US tension with US House of Representatives Speaker Nancy Pelosi set to begin a visit to Taiwan against the objections of China, which regards the self-governed island as a breakaway province.
Back home, Thong said the FBM KLCI fell marginally, but losses were capped due to attractive valuations of the benchmark index against its regional peers.
“We believe foreign funds will continue to accumulate local stocks to take advantage of our still cheap valuations amid the weakened ringgit.
“Notwithstanding the tension in the region, we anticipate the benchmark index to trend slightly higher within the 1,490-1,515 range for the remaining week, with immediate resistance at 1,500 level followed by 1,530 and support at 1,460,” he said.
Among heavyweights, Malayan Banking Bhd improved one sen to RM8.88, Public Bank Bhd added two sen to RM4.66, Petronas Chemicals Group Bhd lost 10 sen to RM8.85, IHH Healthcare Bhd slid eight sen to RM6.42, while CIMB Group Holdings Bhd was flat at RM5.25.
Of the actives, CSH Alliance Bhd was two sen weaker at 5.5 sen, PUC Bhd fell 1.5 sen to three sen, Metronic Global Bhd slipped 2.5 sen to 10 sen, Top Glove Corp Bhd edged down one sen to 98 sen, while Borneo Oil Bhd was flat at 2.5 sen.
On the index board, the FBM Emas Index went down 85.72 points to 10,582.5, the FBM Emas Shariah Index sank 135.93 points to 10,697.15, the FBMT 100 Index narrowed 75.89 points to 10,336.68, the FBM ACE slipped 112.16 points to 4,796.58, and the FBM 70 dipped 202.82 points to 12,594.5.
Sector-wise, the Plantation Index declined 91.13 points to 7,028.05, the Industrial Products and Services Index shed 1.59 points to 184.44, the Energy Index gave up 17.42 points to 658.59, while the Financial Services Index eased 12.53 points to 16,651.28.
Main Market volume rose to 1.82 billion shares worth RM1.34 billion against 1.6 billion shares worth RM1.24 billion on Monday.
Warrants turnover improved to 368.32 million units valued at RM58.61 million versus 280.89 million units valued at RM55.42 million on Monday.
ACE Market volume surged to 658.3 million shares worth RM192.17 million from 496.33 million shares worth RM199.01 million previously.
Consumer products and services counters accounted for 169.35 million shares traded on the Main Market, industrial products and services (846.41 million), construction (60.19 million), technology (191.73 million), SPAC (nil), financial services (38.64 million), property (108.59 million), plantation (51.61 million), REITs (10.02 million), closed/fund (4,100), energy (181.4 million), healthcare (105.69 million), telecommunications and media (16.54 million), transportation and logistics (31.96 million), and utilities (11.31 million).
Source: The Edge
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