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 15): Bursa Malaysia closed lower on Monday (Aug 15) amid mixed sentiment on regional markets, as profit-taking set in on selected heavyweights after their recent gains, dealers said.
The FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.18 points to end at 1,504.01 compared with Friday's close of 1,506.19.
The benchmark index, which opened 0.23 of-a-point higher at 1,506.42 on Monday morning, moved between 1,503.02 and 1,510.11 throughout the trading session.
Market breadth was also negative as losers beat gainers 496 to 319,
while 442 counters were unchanged, 1,020 untraded, and 18 others
suspended.
Total turnover increased to 2.54 billion units worth RM1.73 billion from 2.08 billion units worth RM1.63 billion on Friday.
Malayan Banking Bhd (Maybank) and Sime Darby Plantation Bhd were among the biggest contributors to the losses in the composite index. Maybank declined six sen to RM8.91 while Sime Darby Plantation fell eight sen to RM4.56, contributing a combined 2.16 points.
Meanwhile, Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI closed marginally lower amid the heavy selling on glove stocks.
“Regionally, the key indices ended broadly lower partly due to the continuing geopolitical tensions in the region amid the US-China spat over Taiwan,” he told Bernama on Monday.
As for the local bourse, he said heavy selling on glove stocks due to falling average selling prices saw both Hartalega Holdings Bhd and Top Glove Corp Bhd losing about 7% each.
“We believe the selling is overdone as share prices of both stocks have fallen to far below their pre-pandemic levels. Nonetheless, the FBM KLCI remained well supported above the 1,500 level, thanks to foreign buying, particularly on telecommunications, utilities and plantation stocks.
“As such we anticipate the benchmark index to trend slightly higher for the week and hover in the region of 1,500-1,520. Technically, we spot the immediate resistance at 1,510 followed by 1,530, while support is at 1,480,” he added.
Among other heavyweights, Public Bank Bhd added one sen to RM4.66, Tenaga Nasional Bhd gained nine sen to RM8.72, Petronas Chemicals Group Bhd slipped two sen to RM8.78, while IHH Healthcare Bhd was flat at RM6.49. CIMB Group Holdings Bhd, too, was unchanged at RM5.43.
Of the actives, Top Glove fell six sen to 79.5 sen and Sapura Energy Bhd eased half-a-sen to five sen. Dagang NeXchange Bhd stood at 89 sen followed by Borneo Oil Bhd at 2.5 sen, as both counters were flat.
On the index board, the FBMT 100 Index eased 21.84 points to 10,405.77, the FBM Emas Shariah Index shaved off 20.79 points to 10,769.54, the FBM 70 lost 53.99 points to 12,707.4, the FBM ACE advanced 22.72 points to 4,959.46, while the FBM Emas Index slipped 22.64 points to 10,660.54.
Sector-wise, the Financial Services Index declined 49.78 points to 16,777.83, the Plantation Index dipped 35.25 points to 7,161.56, the Industrial Products and Services Index trimmed 0.94 of-a-point to 183.1, and the Energy Index edged down 5.7 points to 657.42.
The Main Market volume increased to 1.80 billion shares worth RM1.48 billion from 1.43 billion shares worth RM1.43 billion on Friday.
Warrants turnover expanded to 327.27 million units valued at RM46.61 million versus 246.16 million units valued at RM37.6 million previously.
The ACE Market volume improved to 421.02 million shares worth RM205.61 million from 411.41 million shares worth RM161.72 million last Friday.
Consumer products and services counters accounted for 176.64 million shares traded on the Main Market, industrial products and services (473.02 million), construction (25.51 million), technology (272.81 million), SPAC (nil), financial services (43.7 million), property (121.76 million), plantation (26.44 million), REITs (6.1 million), closed/fund (nil), energy (262.14 million), healthcare (311.33 million), telecommunications and media (34.88 million), transportation and logistics (26.7 million), and utilities (14.98 million).
Source: The Edge
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