KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Key Developments
Massive Tariff Escalation
Chinese goods now face 104% total tariffs (up from 54% last week)
EU hit with 20%, Vietnam 46%, Japan 24%, among others
Tariffs apply to new imports arriving after May 27 (those already in transit exempt)
Market Impact
S&P 500 fell below 5,000, nearing bear market territory
$5.8 trillion in market cap wiped out from S&P 500 firms in four days
Nikkei fell over 3%, Korean won hits 16-year low
US stock futures point to a fifth straight day of losses
White House Position
Trump says tariffs are “permanent”, but also calls them “pressure tools” to drive trade negotiations
Talks scheduled with South Korea, Japan, and Italy’s PM next week
China has vowed retaliation, accusing US of “blackmail”
Consumer Impact
Economists warn of higher prices on goods like wine, sneakers, electronics
Reuters/Ipsos poll: Nearly 75% of Americans expect rising prices in next 6 months
Strategic View
Trump’s Approach
Uses tariffs to force renegotiation of trade deals
Accuses countries of currency manipulation and trade imbalances
Expected to announce “major” new tariffs on pharmaceutical imports soon
Global Response
Countries caught between negotiating or retaliating
Japan may link trade talks with currency exchange rates
Bottom Line The tariff war has intensified into a full-scale economic shock. While Trump insists it will “bring countries to the table,” global markets and businesses are bracing for sustained disruption. Investors are watching closely for retaliatory actions — and whether the US economy can withstand the blowback.
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