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 21 (Bernama) -- Bursa Malaysia ended lower for the fifth consecutive day today, reversing its earlier gains due to late selling.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was marginally weaker by 0.14 per cent or 2.32 points to 1,590.37 from Thursday’s close of 1,592.69.
The benchmark index opened 0.72 of a point higher at 1,593.41, subsequently moving between 1,590.00 and 1,598.16 throughout the trading session.
However, market breadth was slightly better as gainers surpassed decliners 600 to 585, with 477 counters unchanged, 775 untraded and 24 others suspended.
Turnover increased to 5.83 billion units worth RM6.06 billion from Thursday's 5.03 billion units valued at RM3.42 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said major regional indices finished mostly lower following broadly negative cues from Wall Street overnight. Technology stocks faced pressure following a drop in Nvidia shares.
On a positive note, he said the US Federal Reserve (Fed) officials have indicated they might lower their main interest rate once or twice this year, from its highest level in over 20 years.
“Back home, we maintain a cautiously optimistic outlook for the local market amidst its escalating volatility,” he told Bernama.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower today during the last-minute trading, settling below the 1,600 level due to continued selling pressure from foreign funds.
“However, stocks began to rebound despite the absence of domestic catalysts, with notable buying activity in the banking and plantation sectors.
“Bargain hunters also focused on purchasing small-cap stocks, as shown by the rebound in the Bursa small-cap and ACE indices,” said Mohd Sedek.
Of the heavyweights, CelcomDigi and PMetal eased 10 sen each to RM3.61 and RM5.70, Maybank fell 7.0 sen to RM9.86, Public Bank shed 3.0 sen to RM4.00 and Petronas Chemicals reduced 6.0 sen to RM6.46.
Of the most active counters, JCY increased 7.0 sen to 84.5 sen, Ingenieur Gudang and ATA IMS were flat at 6.5 sen and 53 sen respectively, Velesto was half-a-sen lower at 25.5 sen and newly listed Agricore rallied 37.5 sen to 87.5 sen.
Of the top decliners, Dutch Lady Milk Industries dipped 48 sen to RM36.32, MPI slid 38 sen to RM39.22, Pentamaster declined 23 sen to RM4.82, KESM gave up 14 sen to RM7.17, and PPB slipped 12 sen to RM14.30.
On the top gainers list, KLK and Notion recovered 40 sen each to RM20.66 and RM2.38, followed by Agricore and United Plantations which increased 28 sen to RM24.08 while EG Industries strengthened by 24 sen to RM1.73.
On the index board, the FBM Emas Index gained 1.48 points to 12,244.83, but the FBMT 100 Index fell 5.70 points to 11,815.98 and the FBM Emas Shariah Index decreased 10.27 points to 12,579.17.
The FBM 70 Index gained 37.71 points to 17,927.11 and the FBM ACE Index increased 35.01 points to 5,789.05.
Sector-wise, the Financial Services Index dropped 2.87 points to 17,416.53, the Industrial Products and Services Index edged up 0.32 of-a-point to 197.79 and the Plantation Index jumped 20.40 points to 7,028.38, while the Energy Index slid 10.41 points to 963.00.
Source: Bernama
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