KUALA LUMPUR, April 17 (Bernama) -- Bursa Malaysia rebounded from early losses to close higher today, supported by the upbeat performance of regional peers amid improved investor sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 6.35 points, or 0.43 per cent, to 1,483.27 compared to Wednesday’s close of 1,476.92. The benchmark index opened 1.75 points lower at 1,475.17 and moved between 1,473.21 and 1,487.27 throughout the day. In the broader market, gainers outpaced decliners 455 to 354, while 467 counters were unchanged, 1,134 untraded, and 19 others suspended. Turnover slipped to 2.40 billion units valued at RM1.60 billion from 3.00 billion units valued at RM1.65 billion on Wednesday.
Asian stocks and currencies surged Thursday after US President Donald Trump paused sweeping new tariffs, providing temporary relief that fueled the biggest rally in emerging Asian equities in over two years.
Market Highlights:
MSCI EM Asia Index: +4%, biggest one-day gain since Nov 2022
ASEAN equities: +5%, best day since the pandemic’s onset
Singapore’s STI Index: +9%, after a 15% drop over two weeks
Indonesia, Malaysia, Thailand benchmarks: Up ~5%
Philippines stocks: +2%
Ringgit & Rupiah: +0.5% vs USD
The Trigger:
Trump reversed course just hours after his reciprocal tariffs took effect, introducing a 90-day pause for most countries—excluding China, which now faces a 125% tariff.
“The 90-day pause in reciprocal tariffs seems to reduce the likelihood that Emerging Asia is headed for its worst GDP outcomes,” said Barclays analysts.But they added: “The region is not out of the woods yet.”
The China Factor:
While Southeast Asia benefits from the pause, China – ASEAN’s largest trade partner – was hit harder.
Beijing retaliated with 84% tariffs on US goods, intensifying the trade standoff.
China’s yuan fell to its weakest level since the global financial crisis.
“An extended standoff with risk of escalation is the more likely outcome,” warned Vishnu Varathan of Mizuho Bank.
Other Movements:
Hong Kong equities: +3%
China stocks: Rose modestly despite yuan weakness
Philippine peso: Flat ahead of central bank policy meeting
India markets: Closed for holiday
Trump’s tariff pause sparked a relief rally across Asia, but with China still in the crosshairs, the region remains in a fragile equilibrium — one misstep away from another round of volatility.
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