KUALA LUMPUR, April 8 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) erased earlier gains to close marginally lower on Tuesday as mild bargain hunting activities were offset by cautious mode over ongoing global uncertainties. At 5 pm, the benchmark index slipped 0.24 of-a-point, or 0.02 per cent, to 1,443.56 from yesterday’s close of 1,443.80. The benchmark index opened 7.63 points firmer at 1,451.43 and climbed to as high as 1,454.58 in early trade before retreating to a low of 1,440.89 towards the end of the morning trading session. It then moved in a yo-yo mode during the afternoon session. In contrast, the broader market was positive with gainers outpacing decliners 669 to 367, while 419 counters were unchanged, 894 counters untraded, and nine others suspended. Turnover dwindled to 3.32 billion units valued at RM2.83 billion against 5.35 billion units valued at RM4.67 billion on Monday.
US stock futures fell Tuesday morning as investors brace for the long-awaited announcement of President Trump's "Liberation Day" tariffs, which may impose 20% tariffs on most U.S. imports, marking a major shift in U.S. trade policy. The market is on edge amid growing uncertainty, with futures on all major indexes in the red.
Market Snapshot (As of 7:42 AM ET)
E-mini S&P 500 Futures (ESmain.US): 5,620.25 (▼ 0.58%)
E-mini Nasdaq 100 Futures (NQmain.US): ▼ 0.57%
E-mini Dow Futures (YMmain.US): ▼ 266 points (▼ 0.63%)
🔍 Top News Highlights
Trump’s 20% Tariff Proposal Set to Shake Global Trade
Scope: The Trump administration is planning broad-based 20% tariffs on most imports, potentially sparing only critical goods like pharmaceuticals.
Pharma Exclusion Likely: According to Reuters, the pharmaceutical industry is expected to avoid the brunt of the tariffs, with calls for a gradual rollout to protect supply chains and mitigate cost shocks.
Market Reaction: The proposed tariffs have sparked fresh market jitters, increasing fears of inflation and a potential recession.
🚗 Tesla's Turbulent Week: Delivery Concerns & Musk's White House Role
Tesla (TSLA.US) is expected to release Q1 delivery numbers on April 2, with estimates lowered to 345,000–373,000 units, signaling a 3.6–11% YoY drop due to production issues and ongoing protests.
- Musk's Exit from White House Advisory Role?Trump hinted that Elon Musk may step down from his advisory position, possibly to refocus on his business ventures.
⚡ China EVs Surge Ahead
Chinese automakers reported robust March deliveries, benefiting from government support:
BYD: +25% YoY to 377,420 units
XPeng: +200%+ to 33,205 units
Li Auto: +26.5% to 36,674 units
NIO: +26.7% to 15,039 units
Market Takeaways
- Tariff Tensions Rise:The looming 20% tariffs risk slowing global trade and pushing input costs higher, especially for sectors dependent on global supply chains.
- Inflation Risk Elevated:Tariffs on consumer goods could add to inflationary pressure, reinforcing hawkish expectations on interest rates.
- Tesla Under Pressure:Deliveries likely to fall short of expectations; ongoing public scrutiny and Musk's shifting political role may add to the headwinds.
- China's EV Boom:While U.S. automakers face challenges, Chinese EV firms continue to shine—investors may pivot toward international EV plays for growth exposure.
Conclusion
Markets are on edge ahead of Trump’s Liberation Day tariff announcement, which may trigger a new chapter in U.S. trade policy and global economic realignment. With Tesla's sales concerns, inflationary risks, and geopolitical tensions all in play, investors should tread cautiously, diversify across resilient sectors, and monitor defensive plays for stability.
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