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KUALA LUMPUR, March 14 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) ended the week slightly higher, in line with regional indices despite the weaker performance on Wall Street overnight. At 5 pm, the FBM KLCI rose 2.12 points or 0.14 per cent to 1,512.15 from Thursday’s close of 1,510.03.  The market bellwether opened 10.08 points lower at 1,499.95, and moved between 1,493.29 and 1,516.25 throughout the day.  On the broader market, gainers outpaced losers with 680 to 292, while 437 counters were unchanged, 1,009 untraded, and 13 suspended. Turnover was marginally lower at 3.24 billion units worth RM2.5 billion from 3.25 billion units worth RM2.90 billion on Thursday.

  Stock Market Decline: The  S&P 500  has entered  correction territory , falling over  10%  from its recent peak, as  President Trump's trade war  intensifies. The latest round of tariffs, including threats against the EU,  Canada , and  China , has caused a significant pullback in US equities, particularly affecting industries reliant on trade. Key Developments: European Union  retaliates against  Trump's tariffs , implementing duties on US goods, especially  alcoholic beverages .  Trump  responded with an increased  200% tariff  threat on  wine and champagne  from the EU. Canada  also escalated the situation with  25% tariffs  on  $30 billion of US goods , particularly  steel and aluminum  exports. Investors  reacted by selling off, pushing the  S&P 500  into correction territory and seeing  a $5 trillion drop  in market value o...

Asian equities  faced downward pressure on Friday morning after  US stocks  dropped past a key milestone, sending major indices into  correction territory . The  S&P 500  fell  1.4%  to a six-month low, marking a  10% correction , the third straight week of losses. Similarly, the  Nasdaq 100  also slipped by  1.9% , while  Treasuries  saw a rally. Key Market Movements: US stocks : The S&P 500’s correction led to a loss of  $5 trillion  from the benchmark's value, deepening losses in  megacap tech stocks  and  junk bonds . An  $8 billion ETF  tracking  junk bonds  saw a significant loss, and  Bitcoin  also saw a dip before stabilizing in Asia. US tariffs :  President Trump  intensified his  trade war  rhetoric, threatening a  200% tariff  on  European wine and champagne . This was part of broader concerns over escalating t...

In a recent interview, the  European Union’s foreign policy chief ,  Kaja Kallas , claimed that  China  stands to benefit from the ongoing trade tensions between the  U.S.  and its allies. Speaking on the sidelines of a  Group of Seven (G7) meeting in  Canada , Kallas stated, "Who is laughing on the side or looking at the side is China. It’s really benefitting from the U.S. having a trade war with Europe." Her comments came after  U.S. President Donald Trump  threatened to impose a  200% tariff  on  wine, champagne , and other alcoholic beverages from  France  and other  EU  nations. This was a retaliation against the  EU’s  plan to tax  American whiskey exports , which was itself a countermeasure to the  U.S. tariffs on steel and aluminum . The Global Impact of US Trade Wars: Kallas emphasized that  trade wars  typically lead to  inflation peaks , which hurt consumers...

President  Donald Trump's  tariff policy has raised concerns across the auto industry, and  Tesla  is no exception. Tesla's Concerns: Tesla sent an unsigned letter to the  U.S. Trade Representative  (USTR), warning about the potential negative impact of  retaliatory tariffs  on the electric vehicle (EV) maker. In the letter, Tesla noted that as a  U.S. manufacturer and exporter , it encourages the USTR to consider the  downstream impacts  of actions taken to address unfair trade practices. Tesla emphasized that  U.S. exporters could face disproportionate impacts when countries respond to the U.S. trade actions. Context of the Trade War: Canada  has placed  25% tariffs  on approximately  $30 billion  of U.S. goods, including steel and aluminum, in retaliation for Trump's tariffs. While  cars  aren’t included in this particular retaliation, there’s ongoing concern about future tariffs on the...

The  February Consumer Price Index (CPI)  data released this Wednesday showed inflation cooling more than expected, offering a brief respite for markets that have been rattled by  trade tensions  and  valuation concerns . Here's an overview of how the data affected the market: Key CPI Data Highlights: Headline CPI  increased by  0.2% month-over-month , below the  0.3%  economists anticipated. Core CPI  (excluding food and energy) rose  0.3% , also missing forecasts. On an  annual basis , headline inflation eased to  2.8%  from  3.0%  in January, indicating that price pressures might be stabilizing. Market Response: The  Nasdaq Composite  jumped  over 1% , while the  S&P 500  added  0.8%  in early trading. The  Dow Jones Industrial Average , however, closed  down 0.2% , weighed down by  trade-exposed industrials . 10-year Treasury yields  fell by...

The  S&P 500 Index  officially entered  correction territory  on Thursday, marking a swift 10% decline from its recent high. This decline was driven by escalating global trade tensions, particularly due to President  Donald Trump's aggressive tariff policies. Quick Fall Into Correction The  S&P 500  fell  1.4%  on Thursday, closing at  5,521.52 . This drop pushed the index more than  10%  below its recent peak of  6,144.15 , which was reached on  February 19 . The correction took only  16 trading days , making it the fastest peak-to-correction decline since the onset of the COVID-19 pandemic in March 2020. What History Tells Us Historically, the market tends to experience some turbulence after entering correction territory: In the  first month  after a correction, the S&P 500 typically shows an average  negative return  of  1.7% . However,  stocks tend to recover  ov...

RHB Investment Bank  has maintained its  OVERWEIGHT  call on Malaysia's  healthcare facilities and services sector , naming  KPJ Healthcare Bhd  as its top pick. Despite some short-term challenges, including softer numbers in Q1 2025 due to Ramadan, RHB remains optimistic about the sector's long-term prospects. Growth Drivers for Healthcare Providers RHB's positive outlook is driven by several key factors, including: Organic expansion strategies The growing prevalence of  non-communicable diseases (NCDs) The impact of an  ageing population These trends are expected to support sustained growth in the sector, even as short-term challenges arise. KPJ Healthcare's Strong Performance KPJ Healthcare  stands out, with strong contributions from  health tourism  and improved operational efficiency, particularly from hospitals under development. One of the standout performers,  Damansara Specialist Hospital 2 (DSH2) , has seen a dramatic...

Wall Street Recap : U.S. stocks  saw a sharp decline on  Thursday , with  S&P 500  entering correction territory, down  1.39% , and the  Nasdaq  falling  1.96% . Trade tensions escalated, particularly over tariffs:  President Trump  threatened  200% tariffs  on  EU alcoholic beverages  in retaliation to the EU’s proposed  50% duty  on American whiskey. Despite positive inflation news, with the  Producer Price Index  staying flat, trade war fears overshadowed market sentiment. Stocks to Watch : Intel (INTC.US)  surged  14.6%  after announcing the appointment of  Lip-Bu Tan , former  Cadence Design Systems CEO , as the new  chief executive . Adobe (ADBE.US)  faced a steep  13.9% drop  due to  disappointing Q2 guidance , overshadowing better-than-expected Q1 results. Bursa Market Insight : The  FTSE Bursa Malaysia KLCI  rebounded  1....

Donald Trump’s 25% tariffs  on steel and aluminum imports went into effect today, escalating the ongoing  global trade war . The move, coupled with fresh tariff threats, has sparked fresh  market volatility  and further tensions with  Canada  and the  EU . Key Highlights : Tariff Drama : After a day of back-and-forth threats, Trump’s tariffs on  steel and aluminum  imports officially kicked in. This comes as  Canada  and the  EU  retaliated, with the EU planning duties on over  $28 billion  worth of American goods. U.S.-Canada Tensions : Trump’s latest  tariff threat  was aimed at  Canada , intensifying already strained trade relations. However, Trump downplayed the risk of a  recession  caused by the tariffs while hinting at more levies in the future. Market Reaction : Following the tariff drama,  U.S. equity markets  experienced some stabilization after the chaos left traders ...

KUALA LUMPUR, March 13 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) emerged as the top-performing index in the region today, gaining 1.69 per cent, as it bounced back from a significant five-day sell-off, driven by bargain hunting. At 5 pm, the FBM KLCI jumped 25.20 points to 1,510.03 from Wednesday’s close of 1,484.83. The market bellwether opened 3.96 points higher at 1,488.79, and moved between 1,487.0 and 1,513.97 throughout the day.  On the broader market, gainers outpaced losers with 651 to 244, while 522 counters were unchanged, 973 untraded, and 13 suspended.  Turnover rose to 3.25 billion units worth RM2.90 billion from 3.09 billion units worth RM3.37 billion on Wednesday.

Canada  and the  European Union  have announced  retaliatory tariffs  in response to  Donald Trump’s  latest trade measures, intensifying the  global trade war . Key Developments : Canada’s Response :  Canada  has imposed  25% tariffs  on about  C$30 billion  ($20.8 billion) worth of  U.S.-made goods , including  steel, aluminum , and consumer products like  computers  and  sporting goods . This measure directly counters Trump’s tariffs aimed at revitalizing  America’s steel industry .  Canada  matched the tariffs  “dollar for dollar”  but delayed implementation, offering Trump a window to avoid further economic damage. EU Retaliation : The  European Union  has also retaliated with its own duties on up to  €26 billion  ($28.3 billion) worth of  American goods . While the  U.K.  remains a steadfast ally of the U.S. in trade talks, the ...

Stock markets  experienced another wild day, marked by  new tariff threats  and reversals from  President Donald Trump . While the day ended with a  red market board , investor sentiment remains uncertain amid the constant tariff drama between the  U.S. and Canada . Key Points : Tariff Threats : Trump sent an  all-caps social media post  threatening to  increase steel tariffs  on  Canada , but quickly reversed his stance after  Ontario  announced it would  suspend  its  25% surcharge  on electricity exports to the U.S. Back-and-Forth : The  U.S.  has several  pending tariff threats  against Canada, and Canada has said it will keep its  trade retaliation  in place until the U.S. removes its own tariffs and agrees to  free trade . Canadian Dollar Volatility : The  Canadian dollar  reached a  weekly low  due to the tariff uncertainty but bounced back. ...

Nvidia Corp.  shares have recently rebounded, but one analyst believes the real key to a sustained recovery lies not in artificial intelligence (AI) spending, but in the company’s  gross profit margins . Key Takeaways : Focus on Gross Margins : While Wall Street worries about potential lower spending on  AI infrastructure ,  Vivek Arya , an analyst at  Bank of America (BofA) , argues that  Nvidia’s gross margins  are the real focus for investors. He pointed out that Nvidia’s stock peaked last year around the same time  gross margins hit 79% , which was unusually high. Current Margin Trends : In the latest quarter, Nvidia’s  gross margin  was  73% , impacted by the transition to its new  Blackwell product line . Arya expects this to be a  trough  and forecasts margins will improve to the  mid-70% range  in the second half of the fiscal year. Market Position : Despite increased competition from companies like...

Small Medium Enterprise Development Bank Malaysia (SME Bank)  has projected Malaysia's  GDP growth  to range between  4.5% and 5%  in 2025, supported by the robust  Madani Economy  framework and a positive economic outlook. Key Highlights : 2024 Growth Performance :  Malaysia’s GDP  grew  5.1%  in 2024, exceeding the bank’s forecast of  4.3% to 5.3% . The growth was driven by  strong household spending ,  favourable labor market conditions ,  robust investment , and a  recovery in external trade . 2025 Growth Outlook : SME Bank’s Acting CEO,  Datuk Dr Mohammad Hardee Ibrahim , expects  GDP growth  for 2025 to remain strong, between  4.5% and 5% , continuing the positive momentum seen in 2024. Sectoral Growth : The  construction sector  is anticipated to lead in 2025 with double-digit growth, building on its strong performance since 2023. The  manufacturing sector  is a...

The impact of  U.S. tariffs  on goods like  steel  and  aluminum  continues to affect both the U.S. economy and consumers. Experts are debating whether the effects of these tariffs will bring higher prices and slow economic growth, especially with inflation already at relatively high levels. Tariffs and Their Economic Impact : Tariff Increases : Tariffs on  aluminum  and  steel  are going higher than before, but the economic argument behind these increases is unclear.  Aluminum production  in the U.S. isn't very elastic, meaning it won’t increase much despite higher prices. This could mean continued high prices for aluminum products without the expected boost in local production. Previous Impact : In 2018, a 25% tariff on  steel  reduced U.S. steel consumption by 7 million tons. Businesses such as  automakers  and  homebuilders  started using  less steel  to reduce costs, leading to produ...

KUALA LUMPUR, March 12 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) continued its decline, breaching the key support level of 1,490-1,500, driven by heightened investor concerns over the potential repercussions of an escalating global trade dispute. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices were mostly lower as investors navigated uncertainties stemming from potential economic slowdowns. At 5 pm, the FBM KLCI dropped 35.32 points, or 2.32 per cent, to 1,484.83 from Tuesday’s close of 1,520.15. The index recorded close to 10 per cent loss on a year-to-date basis. The market bellwether opened 15.44 points lower at 1,504.71, and fluctuated between 1,478.84 and 1,505.33 throughout the day.  On the broader market, decliners thumped advancers 659 to 297, while 469 counters were unchanged, 964 untraded, and seven suspended. 

Singapore 's Deputy Prime Minister,  Gan Kim Yong , has issued a stark warning about the potential ripple effects of escalating tariffs, particularly those imposed by the  U.S. under President Donald Trump , on global economic growth. His comments reflect growing concerns across  Asia , a region highly reliant on trade. Key Highlights: Tariff Concerns : Gan expressed  anxiety  over the  U.S. tariffs  on its  three largest trading partners  —  China ,  Canada , and  Mexico  — and the prospect of further tariff measures. He cautioned that these actions could lead to a  cascade of retaliatory tariffs , significantly disrupting  global supply chains  and hindering trade and investment flows. Global Economic Impact : According to Gan, the rise in tariffs and the ongoing  trade wars  could severely  slow down global economic growth , even for countries that are not directly affected by these tariffs...