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KUALA LUMPUR, April 4 (Bernama) -- Bursa Malaysia closed lower today, with the benchmark index falling by 0.97 per cent, as persistent selling across various sectors weighed on the market, which continued to feel the impact of sweeping US tariffs.  At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 14.77 points to 1,504.14 from Thursday’s close of 1,518.91. The benchmark index opened 9.90 points easier at 1,509.01 and fluctuated between 1,500.90 and 1,515.74 throughout the day.  In the broader market, losers thumped gainers 777 to 185, while 366 counters were unchanged, 1,031 counters untraded and 19 others suspended.   Turnover fell to 1.81 billion units valued at RM1.89 billion against Thursday’s 2.51 billion units valued at RM1.81 billion.    

Spot gold hit a new record: US$3,167.57/oz on Thursday +19% year-to-date | +71% since end-2022 Key Takeaways: Trump’s Return Drives Structural De-Dollarisation Central banks are shifting reserves away from the US dollar and Treasuries due to: Tariff escalation and trade wars Unpredictable foreign policy (Ukraine, alliances) Concerns over long-term USD stability Quote: “Uncertainty about US economic policy will remain for years to come.” – Michael Widmer, BofA Central Bank Buying Already Surging Q4 2024: Purchases up 54% year-on-year to 333 tonnes (World Gold Council) Emerging market central banks currently hold around 10% of reserves in gold; BofA suggests a target of 30%, implying: 11,000 tonnes of potential future demand Demand Outlook: Stronger and Stealthier 2025 may see record-high central bank demand in decades Only 34% of estimated 2024 buying reported to IMF — suggesting undisclosed accumulation to avoid political friction with US Quote: “Trump has threatened tariffs on countri...

  US 10-year Treasury yield falls below 4% for the first time since Trump’s re-election as fears of a trade-induced recession surge. Key Developments: Yield Movements: US 10-year yield:  Briefly dipped below  4% , settled at  4.03% . US 2-year yield:  Fell ~ 15bps  to  3.70% . Eurozone & UK bond yields:  Dropped sharply on synchronized global easing bets. Market Pricing: Fed Rate Cuts:  Markets now pricing in  3 to 4 cuts  (90bps) by end-2025. Money markets:  50% probability of  4 quarter-point Fed cuts  — up from 0% pre-announcement. US Dollar:  Dropped  1.5% , reversing post-election gains. Analyst Insights: Brandywine’s Jack McIntyre: Tariffs are now a  bigger drag on growth than inflation , shifting focus of monetary policy. Citi Strategy Upgrade: Upgraded Treasuries to  overweight , citing heightened recession risks. JPMorgan’s Bob Michele: US is “cruising to recession,” Fed could drop rat...

  Key Expectations: Non-farm payrolls : +135,000 (vs +151,000 in February) Unemployment rate : Steady at  4.1% Range of estimates : 50,000 to 185,000 jobs Federal jobs cut : Up to  25,000  in March alone Key Drivers of the Slowdown: Mass federal layoffs  under the  Department of Government Efficiency (DOGE) , with Elon Musk’s cost-cutting campaign facing legal and administrative delays. Tariff Shock : President Trump’s sweeping  10% universal tariff  plus targeted duties on 60 nations has raised the effective US tariff rate to a 100-year high. Businesses are pulling back on hiring, delaying capital expenditure, and preparing for margin pressures. Consumer Retrenchment : A wave of  pre-tariff stockpiling in late 2024  has reversed, with spending slowing in Q1 2025. Retail and manufacturing payrolls  expected to face pressure in April data. Economic Risks Rising: GDP : Q1 growth tracking below  0.5% annualized ; recession odds in...

  Key Takeaway Trump’s aggressive tariff rollout has triggered a sharp risk-off shift,  erasing the dollar’s post-election rally  and fueling a structural bearish turn in the FX market. Highlights: Bloomberg Dollar Spot Index Down to lowest levels since October 2024 — effectively wiping out all gains made since Trump’s November victory. Market Reaction Dollar fell  1.5%  Thursday, continued to slide in Asian trading Friday. All G10 currencies rallied — led by the  Japanese yen  and  Swiss franc . US 10-year Treasury yields dropped below 4%. US equity market lost over  $3 trillion  in value Thursday. Investor Sentiment Turning CFTC data show speculative traders now  net short  the dollar — the first time since pre-election. Amundi forecasts a  10% drop  in the dollar this year amid recession risk. ING warns the dollar is “naked” against weaker domestic growth. Shift in Narrative Early-year optimism from tax cuts and ta...

  Key Takeaway The U.S.’s sweeping tariff policy is no longer just about trade—it marks a shift toward  geopolitical coercion , reshaping global supply chains, strategic alliances, and economic sovereignty. Highlights: Tariffs as Power Tools Tariffs are increasingly used to compel compliance from trade partners, often extending beyond economics into areas like tech alignment, sustainability mandates, and diplomatic allegiance. Small Economies at Risk Countries like Malaysia—highly integrated into U.S.-led supply chains—must now navigate a complex terrain of lobbying, compliance, and political negotiation to avoid punitive costs. Unequal Playing Field Only firms with resources to influence policy can effectively respond. Others face reduced profitability or strategic compromise. Fragmenting Global Trade The rise of retaliatory tariffs may accelerate the fragmentation of global commerce into politically aligned blocs, weakening supply chain resilience. Social Risk Implications C...

Key Takeaway: Crypto-related equities saw modest gains in overnight trading as  Bitcoin stabilized above $83,250 , with risk sentiment returning selectively across digital asset proxies. Meanwhile,  GameStop shares rallied nearly 3%  following an increased stake by CEO  Ryan Cohen , reigniting interest in retail-driven meme stocks. Crypto Equity Snapshot: Hut 8 (HUT) : +3.1% MicroStrategy (MSTR) : +2.2% Marathon Digital (MARA) : +1.4% CleanSpark (CLSK) : +1.2% Bitcoin (BTC) : +0.5% to  $83,250 Ethereum (ETH) : +0.3% to  $1,815 The move follows  broader flight-to-alternatives activity , with investors parsing volatility across traditional asset classes after U.S. tariff announcements. Meme Stock Watch: GameStop (GME) : +2.9% CEO Ryan Cohen’s additional share purchase has fueled  speculative momentum , drawing renewed attention from retail forums and options markets. Market Perspective: Despite broader risk-off sentiment, these gains reflect  s...

Key Takeaway: President Trump’s sweeping new tariffs triggered a  $3.1 trillion market rout , with the  S&P 500 falling 4.8% , marking its  steepest one-day loss since June 2020 . The newly announced tariff regime — including a  10% baseline duty and country-specific levies as high as 54%  — poses the  largest trade shock in U.S. history , according to Macquarie. Market Impact Highlights: Nasdaq Composite  slid nearly  6% , tech stocks led the decline. Russell 2000  entered bear territory, plunging  6.6%  from its Nov 2024 peak. Dow Jones  closed at its lowest since September, down  1,679 points (-4%) . Consumer staples  were the sole sector in the S&P 500 to finish positive. Bond yields dropped  as risk-off sentiment intensified;  10-year UST  yield fell near 4%. Dollar weakened  despite elevated geopolitical risk, as traders sought safe havens. Strategic Context: While investors hoped Apr...

The recent  imposition of substantial U.S. tariffs  has significantly impacted major technology companies, notably  Apple (AAPL), Nvidia (NVDA), and Tesla (TSLA) . These companies have experienced  sharp declines in their stock prices , leading to  heightened activity in their options trading . Apple's stock dropped over 9% , resulting in a  $311 billion loss in market capitalization . This decline is primarily due to the  newly announced 54% tariff on Chinese imports , which heavily affects  Apple's supply chain . Sources: New York Post, MarketWatch Nvidia and Tesla also faced significant downturns , with  Nvidia's stock falling 7.8%  and  Tesla's decreasing by 5.5% . These declines are attributed to  broader market reactions to the tariffs , which have raised concerns about  increased production costs  and  potential supply chain disruptions . Source: MarketWatch The  options market has responded with incr...

 Key Takeaways Apple (AAPL)  shares posted their  worst performance in five years , following the announcement of a  54% effective tariff rate  on Chinese goods—placing direct pressure on the tech giant's China-reliant supply chain. Tesla (TSLA)  and  Nvidia (NVDA)  stocks also declined, despite Nvidia not being explicitly targeted. A rare  Wall Street downgrade  and broader  risk-off sentiment  added to the selling pressure. Options market  saw a  notable uptick in activity , with a surge in  call volumes and volatility premiums , particularly for  Apple . Options Market Highlights Ticker Unusual Activity Comment AAPL $205 Calls 62,477 contracts traded,  163x volume/open interest ratio  – a major spike in bullish bets or hedges NVDA Elevated put and call volumes Despite no direct tariff, sentiment weighs on valuation-sensitive tech TSLA Mixed option flows Investors repositioning amid tariff risk a...

Market Overview Malaysia's  FBM KLCI  index fell  0.7% to 1508.14  in early trade Thursday, tracking sharp declines on Wall Street following President Trump’s aggressive new tariff announcements. Key Support Level : Analysts at Apex Securities expect the index to test the  1,500 level , with near-term downside cushioned by ongoing  trade ministry talks with U.S. officials  over Malaysia’s newly imposed  24% reciprocal tariff . Sector Rotation: Investors Turn Defensive Apex Securities recommends a  defensive allocation  amid global trade uncertainty and ahead of today’s  U.S. jobs report  and a speech by  Fed Chair Jerome Powell . Sectors in Focus : Healthcare REITs Utilities Logistics Notable Movers Gainer Change Sector IHH Healthcare (IHH) +0.7% Healthcare Shangri-La Hotels (SDG) +0.2% REIT/Hospitality Decliner Change Sector Axiata (AXIATA) –2.2% Telecommunications Maxis (MAXIS) –2.1% Telecommunications Investor Watchlist...

  Despite one of the worst market selloffs since the pandemic, President Trump signaled openness to reducing tariffs — but only in exchange for what he deems “phenomenal” concessions from trading partners. Key Highlights Trump on Tariff Leverage: Speaking aboard Air Force One, Trump defended the sweeping new tariffs as a powerful negotiation tool, claiming “every country has called us” for talks. Conditional Flexibility: While not ruling out tariff reductions, Trump stated he would only consider rolling back duties if the offer on the table was “phenomenal.” More Tariffs Coming: Trump flagged  new levies on semiconductors and pharmaceuticals  are under review. Announcements on these sectors are expected soon. “The chips are starting very soon. The pharma is going to start coming in... at a level that we haven’t really seen before.” — President Donald Trump Market Response Asset Class Reaction After Remarks US Equities ~$2.5T wiped from S&P 500 on Thursday Russell 2000...

KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia ended lower today, with the benchmark index declining 0.5 per cent, weighed down by selected heavyweights led by Press Metal, IHH Healthcare, and Tenaga Nasional. Press Metal shed 16 sen to RM4.87, IHH Healthcare dipped 14 sen to RM6.75, and TNB slipped 18 sen to RM13.58. These stocks resulted in a 6.12-point decline in the benchmark index.  At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 7.61 points to 1,518.91 versus Wednesday’s close of 1,526.52. The benchmark index opened 9.22 points lower at 1,517.30 and fluctuated between 1,512.32 and 1,524.41 throughout the day.  In the broader market, losers thumped gainers 548 to 357, while 448 counters were unchanged, 994 untraded and eight suspended.   Turnover rose to 2.51 billion units valued at RM1.81 billion against Wednesday’s 2.37 billion units valued at RM2.03 billion.   ...

Wall Street's optimism vanished late Wednesday as President Trump’s sweeping new tariffs triggered a sharp selloff in U.S. equity futures and a flight to safe-haven assets, casting a shadow over global trade outlook and corporate margins. Key Market Moves Instrument Move S&P 500 Futures -3.5% Nasdaq 100 Futures -4.5% Treasury Futures Surged (Yields fell sharply) Japanese Yen Gained as safe haven AUD & NZD Bonds Rallied Tariff Summary A  10% baseline tariff  on  all  U.S. imports. Additional tariffs  on ~60 countries, with  higher duties targeting China, EU, and Vietnam . Steel and aluminum imports  spared from the new round but remain under existing 25% duties. “Eye-watering tariffs scream ‘negotiation tactic,’ which will keep markets on edge for the foreseeable future.” — Adam Hetts, Janus Henderson Investors Sector Impact Major declines hit consumer, tech, and industrial names: Company Sector Move Nike, Gap, Lululemon Retail (Vietnam-based) -...

The U.S. dollar fell sharply Thursday as traders rushed into traditional safe havens like the Japanese yen and Swiss franc, reacting to President Trump’s sweeping new tariff package that intensified fears of a global economic slowdown. Key Market Reactions Currency Move Against USD Japanese Yen (JPY) +0.95% (¥147.99) Swiss Franc (CHF) +0.60% (CHF 0.8787) Euro (EUR) +0.43% (US$1.0875) British Pound (GBP) +0.28% (US$1.3047) Chinese Yuan (CNH) Hit 1-month low offshore Australian Dollar -0.5% (US$0.6268) NZ Dollar -0.26% (US$0.5730) Mexican Peso -0.25% (20.2520 per USD) What Triggered the Move? President Trump announced a  10% universal tariff  and  higher duties  on ~60 countries. Tariffs target major trading partners including  China (54%) ,  Vietnam ,  Japan , and the  EU . Investors fear an  escalating global trade war , causing a  flight to safety . “The markets are in risk-off mode and pricing in weaker global economic growth.” — Kyle ...

Global equities sold off sharply and tech stocks were hit hardest on Thursday as U.S. President Donald Trump unveiled sweeping new tariffs that far exceeded market expectations—deepening fears of a global trade disruption and an economic slowdown. Market Reaction Asset Class Move Nasdaq Futures -4.0% S&P 500 Futures -3.3% FTSE Futures -1.8% Gold Hit record above  US$3,160/oz Oil (Brent) -3%, trading near  US$72.56 10-Yr Treasury Yields dropped  14 bps  to 4.04% (5-month low) Nikkei (Japan) -3.9%, lowest in 8 months Kospi (South Korea) -2.0% Vietnam ETF -8.0% (after-hours) Apple (AAPL) -7.0% in after-hours;  US$760B wiped from tech What Triggered the Selloff? Trump rolled out a  baseline 10% tariff  on all imports, with  much higher rates  on key U.S. trade partners: China: 54% Vietnam: 46% Japan: 24% South Korea: 25% EU: 20% China and Taiwan  were hardest hit due to deep exposure in  tech supply chains . Trump also  closed ...

Federal Reserve Governor Adriana Kugler warned that the new wave of U.S. tariffs could have lasting inflationary effects, complicating the Fed’s policy path and potentially distorting the broader economy. Key Points Kugler cautioned that  tariffs may drive more than a one-off price shock , particularly as they affect  intermediate goods  like  steel and aluminum . These materials are used  across multiple industries , meaning price increases could  ripple through supply chains  and persist over time. “This will affect all sectors through supply chain networks... It may take longer for that to filter through the economy.” — Adriana Kugler, Federal Reserve Governor Broader Concerns from the Fed Kugler outlined  three core risks  from the current tariff regime: Prolonged inflation  due to supply chain disruptions. Capital misallocation , as the U.S. may shift production toward industries lacking comparative advantage. Distorted inflation ex...