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, June 7 (Bernama) -- Bursa Malaysia closed on a firmer note Friday on positive investor sentiment and strong buying interest in commodity-related stocks, said an analyst.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.13 points, or 0.19 per cent, to 1,617.86 from yesterday's close of 1,614.73.
The barometer index opened 1.24 points higher at 1,615.97, and fluctuated between 1,614.93 and 1,622.49 throughout the trading session.
On the broader market, gainers thumped decliners 818 to 395, with 472 counters unchanged, 698 untraded and 20 others suspended.
Turnover rose to 5.73 billion units worth RM4.05 billion from yesterday's 5.35 billion units worth RM4.50 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said that the investor sentiment remained positive as the increasing daily trading volume indicated a higher appetite for the local market.
"The FBM KLCI continues to trend higher, driven primarily by buying interest in commodity-related stocks, which had underperformed previously and are now playing catch-up.
"We anticipate this momentum to push the index towards the next resistance level of 1,620. A breakthrough above this level could signal further upward movement," he told Bernama, adding that the immediate support levels are now at 1,600, followed by 1,589.
Among the heavyweights, Maybank added 2.0 sen to RM10.00, CIMB Group gained 1.0 sen to RM6.96, and Tenaga Nasional increased by 6.0 sen to RM13.76, while Public Bank shed 2.0 sen to RM4.11.
As for the actives, JAKS Resources increased 2.5 sen to 15.5 sen, YNH Property climbed 16.0 sen to 64 sen, Jati Tinggi Group gained 8.0 sen to 43.5 sen, Widad Group rose 2.0 sen to 8.0 sen, and WCT Holdings added 5.5 sen to 83 sen.
On the index board, the FBM Emas Index rose 53.17 points to 12,356.86, the FBMT 100 Index increased 44.69 points to 11,940.46, the FBM Emas Shariah Index gained 77.35 points to 12,653.53, the FBM 70 Index climbed 154.03 points to 17,794.88, while the FBM ACE Index surged 77.38 points to 5,577.32.
Sector-wise, the Financial Services Index ticked up 4.84 points to 17,642.27, the Industrial Products and Services Index added 0.41 of-a-point to 197.65, the Industrial Products and Services Index edged up 0.41 of-a-point to 197.65, and the Plantation Index put on 32.47 points to 7,145.33.
The Main Market volume was higher at 3.55 billion units worth RM3.47 billion from 3.15 billion units worth RM3.92 billion on Thursday.
Warrants turnover shrank to 891.70 million units valued at RM124.67 million from 1.07 billion units valued at RM130.50 million.
The ACE Market volume expanded to 1.29 billion shares worth RM452.67 million from 1.12 billion shares worth RM447.93 million previously.
Consumer products and services counters accounted for 418.67 million shares traded on the Main Market, industrial products and services (596.02 million), construction (662.55 million), technology (400.08 million), SPAC (nil), financial services (91.30 million), property (636.26 million), plantation (26.94 million), REITs (24.75 million), closed/fund (54,400), energy (204.16 million), healthcare (156.10 million), telecommunications and media (38.19 million), transportation and logistics (146.93 million), utilities (147.03 million), and business trusts (413,500).
Source: Bernama
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