Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
Upcoming Tariffs on Canada & Mexico
- Starting March 4, a 25% tax on imports from Canada & Mexico will take effect (10% for Canadian energy imports).
- These tariffs were delayed for 30 days to allow both countries to strengthen border security against illegal immigration & drug trafficking.
- Trump justifies the move by citing the fentanyl crisis and its impact on the U.S.
Reciprocal Tariffs Plan
- Signed on Feb. 13, this strategy matches tariffs imposed on U.S. exports by other countries.
- Includes treating value-added taxes (VATs) as tariffs, which could disrupt trade with Europe.
- Implementation dates remain unclear, but major shifts in trade flows are expected.
Steel & Aluminum Tariffs (Effective March 4)
- 25% tariffs on global steel & aluminum imports reinstated to protect U.S. industries.
- Alcoa CEO warns the aluminum tax could cost 100,000 U.S. jobs and hurt American workers.
Potential Future Tariffs
- Trump has hinted at 25% tariffs on autos, semiconductors, and pharmaceuticals, though no timeline has been set.
Market & Economic Impact
- Tariff fears weighed on U.S. stocks, pushing the S&P 500 lower.
- Consumer confidence drops to an 8-month low, as inflation concerns rise.
- Manufacturers worry about long-term consequences, even if some tariffs never materialize.
Summary:
- New tariffs on Canadian & Mexican imports begin March 4, with security concerns driving the policy.
- Global steel & aluminum tariffs reinstated, sparking backlash from U.S. industry leaders.
- Potential auto & semiconductor tariffs loom, creating uncertainty for global trade.
- Market reaction negative, with stocks slipping and consumer confidence shaken.
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