KUALA LUMPUR, April 23 (Bernama) -- Bursa Malaysia rebounded from yesterday’s downbeat performance to end at its intraday high today, driven by bargain hunting, particularly in technology, energy, construction, and consumer stocks. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.94 points or 1.01 per cent to 1,501.19 from Tuesday’s close of 1,486.25. The benchmark index opened 11.11 points higher at 1,497.36 and hit a low of 1,493.26 in the mid-afternoon session before climbing steadily upwards towards closing. Market breadth was positive, with advancers thumping decliners 717 to 264, while 403 counters were unchanged, 1,021 untraded, and 11 suspended. Turnover slipped to 2.99 billion units valued at RM2.08 billion against Tuesday’s 3.43 billion units valued at RM1.66 billion.
President Donald Trump reversed course on steep reciprocal tariffs, pausing new levies on nearly 100 nations just hours after they took effect. But China wasn’t spared—its tariffs were increased to 125%, triggering a mixed reaction of market euphoria and policy confusion.
What Just Happened:
Trump’s 10% baseline global tariff remains, but a 90-day pause was granted for the steeper “reciprocal” tariffs—except for China.
China’s new 125% tariff rate is “effective immediately.”
Canada and Mexico stay exempt from the baseline tariffs, though higher levies on some goods remain planned.
Market Reaction:
Nasdaq soared 12%
S&P 500 jumped 9.5%
Dow surged 7.9% (up 2,962 points)
Bond markets also shifted sharply—long-term yields dropped, short-term yields spiked.
Trump’s Take:
On pausing tariffs: “They were getting a little yippy... a little bit afraid.”
On China: “They want to make a deal.”
On the markets: “THIS IS A GREAT TIME TO BUY!!!” (posted on Truth Social)
What Others Are Saying:
Sen. Jim Justice (R-W.Va.): “Big-time surprise... I love what it’s done to Wall Street.”
Sen. Adam Schiff (D-Calif.): Criticized policy flip-flops, warning of potential insider trading risks.
Sen. Bernie Moreno (R-Ohio): Praised Trump as “a master negotiator.”
Sen. Thom Tillis (R-N.C.): Questioned whether this was planned or a reaction.
🔍 What It Means for Policy & Business:
Trading partners now have 90 days to strike new tariff-reduction deals with the US.
Uncertainty remains, especially for small retailers and capital investment decisions.
Bond market volatility may influence future decisions—Trump cited watching yields before announcing the pause.
What’s Next?
The pressure is on other countries to cut tariffs, remove barriers, commit to U.S. purchases, and invest in U.S. manufacturing.
Critics warn that uncertainty still clouds business planning—especially as China trade relations deteriorate.
Markets celebrated Trump’s surprise pause, but the escalation against China and the unpredictable nature of U.S. trade policy means that businesses and allies remain on edge—watching closely for what comes next.
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