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 9): Bursa Malaysia closed mixed on Tuesday (Aug 9) with the benchmark index ending in the positive territory backed by buying in heavyweights, in sync with the mixed performance in regional bourses.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.65 points to 1,497.68 from Monday’s close of 1,496.03.
The benchmark index, which opened 2.49 points higher at 1,498.52 on Tuesday morning, fluctuated between 1,495 and 1,501.03 throughout the trading session.
The broader market was negative as losers beat gainers 395 to 373,
while 460 counters were unchanged, 1,039 untraded, and eight others
suspended.
Total turnover increased to 2.52 billion units worth RM1.26 billion from 2.19 billion units worth RM1.33 billion on Monday.
Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said investors seemed reluctant to make more significant moves due to the absence of buying catalysts as the market undertone remained jittery amid heightened global market risks and volatility.
“Hence, we anticipate the benchmark index to trend sideways, at the 1,490-1,510-point range for the remainder of the week.
“On a technical point of view, we see immediate resistance at 1,510 and support at 1,480,” he told Bernama.
Among the heavyweights, Malayan Banking Bhd added one sen to RM8.89, while CIMB Group Holdings Bhd also increased one sen to RM5.29. Public Bank Bhd gained two sen to RM4.66, and Tenaga Nasional Bhd rose nine sen to RM8.44.
Petronas Chemicals Group Bhd eased three sen to RM8.70 while IHH Healthcare Bhd slipped one sen to RM6.40.
Of the actives, Dagang NeXchange Bhd settled at 89 sen, followed by MyEG Services Bhd at 78.5 sen, Hextar Industries Bhd at 36 sen and G3 Global Bhd at four sen, as all four counters ended the day flat. Metronic Global Bhd trimmed one sen to 5.5 sen.
On the index board, the FBM Emas Index eased 1.97 points to 10,621.61, the FBMT 100 Index shaved off 0.68 of-a-point to 10,371.15, the FBM Emas Shariah Index slid 14.01 points to 10,753.08, and the FBM 70 lost 49.72 points to 12,702.11.
The FBM ACE, however, rose 31.08 points to 4,886.74.
Sector-wise, the Financial Services Index climbed 34.37 points to 16,687.15, the Energy Index added 0.16 of-a-point to 652.69, while the Plantation Index went down 18.89 points to 7,102.24 and the Industrial Products and Services Index shed 0.76 of-a-point to 181.87.
The Main Market volume increased to 1.77 billion shares worth RM1.06 billion from 1.47 billion shares worth RM1.12 billion on Monday.
Warrants turnover improved to 371.97 million units valued at RM62.28 million versus 216.42 million units valued at RM38.20 million on Monday.
The ACE Market volume decreased to 386.04 million shares worth RM136.99 million from 508.53 million shares worth RM168.52 million previously.
Consumer products and services counters accounted for 559.76 million shares traded on the Main Market, industrial products and services (640.93 million), construction (45.22 million), technology (170.93 million), SPAC (nil), financial services (37.05 million), property (85.25 million), plantation (17.43 million), REITs (6.25 million), closed/fund (4,000), energy (92.73 million), healthcare (54.93 million), telecommunications and media (28.74 million), transportation and logistics (16.42 million), and utilities (9.64 million).
Source: The Edge
Comments
Post a Comment