KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
Key Takeaway: Vietnam’s garment industry aims to diversify export markets and clients as it braces for potential impacts from US President-elect Donald Trump’s trade policies, while maintaining its growth trajectory.
Vietnam’s garment exports are projected to grow further in 2025, reaching $47-$48 billion, up from an estimated $44 billion in 2024, according to the Vietnam Textile and Apparel Association (VITAS). Despite this growth, the industry is preparing for potential changes in US trade policies, given Vietnam’s $100 billion trade surplus with the US last year.
Diversification Strategy
VITAS Chairman Vu Duc Giang emphasized a strategic shift toward diversifying export markets, products, and clients to mitigate risks tied to US tariffs or trade adjustments. While the US remains Vietnam’s largest apparel market, accounting for 38% of shipments, efforts are underway to reduce dependency.
“We will push for diversification to address uncertainties,” Giang said, adding that impacts from the Trump administration may take time to materialize.
Key Facts:
- Global Position: Vietnam is the third-largest apparel exporter globally, after China and Bangladesh.
- US Market Dependence: Vietnam is the second-largest supplier of apparel and footwear to the US, representing over 1,000 brands.
- Export Growth: Apparel exports are up 11.3% from 2023, reflecting a shift of orders into Vietnam from other countries.
Future Outlook
- Positive Momentum: Many garment companies have already secured orders for Q1 2025, signaling a strong start to the year.
- Focus on Trade Relations: VITAS is closely monitoring developments in major markets like the US to make timely adjustments in response to policy changes.
Bottom Line: Vietnam’s textile industry is leveraging market and product diversification to sustain growth and adapt to potential challenges posed by US trade policies, ensuring resilience in the global market.
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