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 17): Bursa Malaysia erased earlier gains to close marginally lower on Wednesday (Aug 17) as profit-taking emerged in utilities as well as telecommunications companies, amid cautious performance on the regional markets, dealers said.
The FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.62 of-a-point to end at 1,518.16 compared with Tuesday's close of 1,518.78.
The benchmark index, which opened 0.77 of-a-point higher at 1,519.55 on Wednesday morning, moved between 1,516.57 and 1,527.84 throughout the day.
Market breadth was slightly negative as losers led gainers 444 to
394, while 436 counters were unchanged, 1,005 untraded, and six others
suspended.
Total turnover increased to 2.72 billion units worth RM1.91 billion from 2.69 billion units worth RM2.22 billion on Tuesday.
Petronas Gas Bhd and Digi.Com Bhd were among the biggest contributors to the losses in the composite index, contributing a combined 1.87 points. Petronas Gas declined 28 sen to RM17.02 while Digi.Com fell seven sen to RM3.79.
Meanwhile, Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI closed marginally lower as inventors took profit during the final hour of trading.
“Key regional markets were higher with Chinese indices rising sharply as investors looked to more stimulus measures to boost economic growth. As for the local bourse, despite some profit-takings, we believe the market undertone remains steady due to improving investor sentiment and foreign buying support.
“Year-to-date, the local market was aided by continuous inflow of foreign funds amounting to RM7.4 billion. As such, we anticipate the FBM KLCI to trend within the range of 1,510-1,530 for the remainder of the week, with immediate resistance at 1,530 and support at 1,500,” he told Bernama.
Among other heavyweights, Malayan Banking Bhd (Maybank) stood at RM8.97, followed by CIMB Group Holdings Bhd at RM5.45 and Public Bank Bhd at RM4.56, as all three counters were flat. Petronas Chemicals Group Bhd slipped three sen to RM8.72, while IHH Healthcare Bhd added one sen to RM6.50.
Of the actives, Metronic Global Bhd was flat at five sen, Pegasus Heights Bhd advanced one sen to 1.5 sen, while Hartalega Holdings Bhd declined three sen to RM1.74, and TWL Holdings Bhd trimmed half-a-sen to 5.5 sen.
On the index board, the FBMT 100 Index fell 6.01 points to 10,492.15, the FBM Emas Shariah Index shed 1.67 points to 10,900.24, the FBM 70 went down 14.28 points to 12,766.55, the FBM ACE dipped 19.02 points to 4,949.26, while the FBM Emas Index slid 5.69 points to 10,743.84.
Sector-wise, the Financial Services Index declined 22.56 points to 16,788.78, the Plantation Index perked up 36 points to 7,294.72, the Industrial Products and Services Index eased 0.31 of-a-point to 183.57, and the Energy Index improved 2.09 points to 659.6.
The Main Market volume increased to 1.98 billion shares worth RM1.72 billion from 1.84 billion shares worth RM1.97 billion on Tuesday.
Warrants turnover dwindled to 313.18 million units valued at RM44.86 million versus 424.16 million units valued at RM54.67 million previously.
The ACE Market volume improved slightly to 432.65 million shares worth RM143.61 million from 432.09 million shares worth RM194.37 million on Tuesday.
Consumer products and services counters accounted for 247.56 million shares traded on the Main Market, industrial products and services (594.32 million), construction (25.8 million), technology (203.82 million), SPAC (nil), financial services (46.84 million), property (333.49 million), plantation (24.34 million), REITs (4.77 million), closed/fund (5,000), energy (98.41 million), healthcare (281.31 million), telecommunications and media (66.79 million), transportation and logistics (29.38 million), and utilities (20.3 million).
Source: The Edge
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