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 18): Bursa Malaysia extended Wednesday's losses to close lower on Thursday (Aug 18) on persistent profit-taking, mostly seen in transportation and logistics, as well as utilities companies, amid the weaker performance on the regional markets, dealers said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.54 points to end at 1,516.62, compared with Wednesday's close of 1,518.16.
The benchmark index, which opened 1.38 points easier at 1,516.78 in the morning, moved between 1,514.67 and 1,522.52 throughout the day.
Market breadth was negative as losers led gainers 487 to 364, while
415 counters were unchanged, 1,032 untraded, and six others suspended.
Total turnover decreased to 2.51 billion units worth RM1.95 billion, from 2.72 billion units worth RM1.91 billion on Wednesday.
MISC and TNB were among the biggest contributors to the losses in the composite index, declining 35 sen and 9.0 sen to RM6.87 and RM8.78 respectively, contributing a combined 3.55 points.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets closed broadly lower, following negative cues from Wall Street overnight, as worries over slowing growth and soaring inflation continued to weigh on market sentiment.
“Meanwhile, China and Hong Kong were also impacted by profit warning from Country Garden Holdings,” he told Bernama.
Back home, Thong said the FBM KLCI moved in a tight range on Thursday due to profit-taking, while on the other hand, foreign funds continued to flow into the local market.
“Nonetheless, the benchmark index remained well supported at above 1,510. Despite the persistent net inflow from foreign funds, market sentiments are still cautious due to heightened global volatility and uncertainties.
“Hence, we expect the FBM KLCI to remain in a consolidation mode and hover at the 1,510-1,525 range towards the weekend,” he added.
Among other heavyweights, Maybank slipped 2.0 sen to RM8.95, Public Bank was flat at RM4.65, while Petronas Chemicals added 3.0 sen to RM8.75, IHH Healthcare went up 1.0 sen to RM6.51, and CIMB advanced 2.0 sen to RM5.47.
Of the actives, Metronic Global was flat at 5.0 sen, Cnergenz soared 18.5 sen to 91 sen, AGMO Holdings jumped 52.5 sen to 78.5 sen, and Hartalega rose 6.0 sen to RM1.80, while Coraza climbed 6.5 sen to 82 sen .
On the index board, the FBMT 100 Index fell 14.71 points to 10,477.44, the FBM Emas Shariah Index shed 29.28 points to 10,870.96, the FBM 70 went down 34.27 points to 12,732.28, the FBM ACE improved 22.89 points to 4,972.15, while the FBM Emas Index slid 13.81 points to 10,730.03.
Sector-wise, the Financial Services Index increased 30.56 points to 16,819.34, the Plantation Index dipped 5.77 points to 7,288.95, the Industrial Products and Services Index eased 0.54 of-a-point to 183.03, and the Energy Index put on 7.93 points to 667.53.
The Main Market volume decreased to 1.57 billion shares worth RM1.49 billion, from 1.98 billion shares worth RM1.72 billion on Wednesday.
Warrants turnover dwindled to 275.28 million units valued at RM47.06 million, versus 313.18 million units valued at RM44.86 million previously.
The ACE Market volume swelled to 672.04 million shares worth RM410.63 million, from 432.65 million shares worth RM143.61 million the day before.
Consumer products and services counters accounted for 223.96 million shares traded on the Main Market, industrial products and services (503.29 million), construction (35.24 million), technology (197.60 million), SPAC (nil), financial services (50.63 million), property (205.90 million), plantation (21.82 million), REITs (3.41 million), closed/fund (3,000), energy (82.77 million), healthcare (173.97 million), telecommunications and media (24.51 million), transportation and logistics (28.33 million), and utilities (14.04 million).
Source: The Edge
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