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 22): Bursa Malaysia closed lower on Monday (Aug 22) as investors continued to take profit amid mixed performance in regional bourses, with the sentiment remaining cautious due to regional and global uncertainties.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 17.07 points, or 1.13%, to end at 1,487.37 compared with Friday's close of 1,504.44.
The benchmark index, which opened 2.83 points weaker at 1,501.61 on Monday morning, moved between 1,486.37 and 1,502.07 throughout the day.
On the broader market, decliners led gainers 670 to 219, while 377 counters were unchanged, 1,062 untraded, and 17 others suspended.
Total turnover advanced to 2.18 billion units worth RM1.56 billion from 2.11 billion units worth RM1.53 billion on last Friday.
Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regional key indices trended mixed as concerns over a global economic slowdown and continued increase in interest rates weighed on sentiment.
“Meanwhile in China, stocks ended in positive territory after the country's central bank lowered its loan prime rate, a target for market rates, as part of efforts to shore up weak economic growth after a crackdown on debt caused a real estate slump while Shanghai and other cities were shut down to fight virus outbreaks,” he told Bernama.
He reckons that despite global developments, bargain-hunting may set in on the local bourse.
“As such, we expect the FBM KLCI to trend sideways, hovering within the 1,480-1,500 range for the week,” he told Bernama on Monday.
Among the heavyweight counters, Malayan Banking Bhd (Maybank) slipped five sen to RM8.87, Public Bank Bhd declined two sen at RM4.59, Petronas Chemicals Group Bhd erased four sen to RM8.70 and CIMB Group Holdings Bhd was 11 sen lower at RM5.31.
Of the actives, Sapura Energy Bhd was one sen easier at four sen, and South Malaysia Industries Bhd advanced 2.5 sen to 50 sen. Cnergenz Bhd stood at 88.5 sen, following by MyEG Services Bhd at 78.5 sen and Metronic Global Bhd at 5.5 sen, as all three counters were flat.
Among the decliners, Malaysia Pacific Industries Bhd was down RM1.58 to RM32.9, Nestle (Malaysia) Bhd erased 80 sen to RM134.20, Hong Leong Financial Group Bhd lost 38 sen to RM19.24 and Petronas Dagangan Bhd slid 36 sen to RM22.30.
On the index board, the FBMT 100 Index fell 119.86 points to 10,303.4, FBM Emas Shariah Index shed 147.93 points to 10,667.67, FBM 70 eased 153.6 points to 12,633.84, FBM ACE declined 131.68 points to 4,855, while the FBM Emas Index slid 123.54 points to 10,556.35.
Sector-wise, the Financial Services Index decreased 137.85 points to 16,615.13, Plantation Index dipped 75.61 points to 7,171.63, Industrial Products and Services Index erased 2.07 points to 181.67, and the Energy Index fell 5.94 points to 665.4.
The Main Market volume slipped to 1.34 billion shares worth RM1.22 billion from 1.35 billion shares worth RM1.23 billion on Friday.
Warrants' turnover improved to 329.54 million units valued at RM53.58 million from 321.76 million units valued at RM48.25 million previously.
The ACE Market volume grew to 514.66 million shares worth RM288 million from 438.85 million shares worth RM252.37 million last Friday.
Consumer products and services counters accounted for 182.65 million shares traded on the Main Market, industrial products and services (367.12 million), construction (47.87 million), technology (156.03 million), SPAC (nil), financial services (46.73 million), property (103.74 million), plantation (16.93 million), REITs (5.92 million), closed/fund (12,000), energy (246.37 million), healthcare (113.8 million), telecommunications and media (13.52 million), transportation and logistics (28.87 million), and utilities (12.27 million).
Source: The Edge
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