KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
In a bold move to shield its domestic manufacturing base, the Malaysian government has imposed provisional anti-dumping duties of up to 57.9% on imports of galvanised steel coils and sheets from China, South Korea, and Vietnam. The tariffs will be effective for 120 days, starting July 7, pending a final decision expected by November 3, 2025.
This development comes after CSC Steel Sdn Bhd filed a petition alleging that these imported products were being sold below their home market prices, inflicting injury on Malaysia’s steel sector.
Strategic Implications for Investors
The measure, introduced by the Ministry of Investment, Trade and Industry (MITI), is part of Malaysia’s ongoing effort to strengthen domestic industrial resilience in the face of global oversupply and unfair trade practices.
This is a positive signal for local steel producers, particularly those operating in downstream flat steel segments such as:
CSC Steel
Southern Steel
Eonmetall Group
Hiap Teck Venture
These firms may benefit from improved pricing power, margin expansion, and better volume visibility over the next two quarters.
Caution for Import-Heavy Players
While domestic producers may gain, the duties could raise input costs for construction, automotive, and manufacturing firms reliant on imported galvanised steel. These industries might see short-term margin pressures, especially if supply chains are rigid or pricing pass-through is delayed.
Policy Signal: Malaysia Is Getting More Assertive
The move marks Malaysia’s firm commitment to trade remedies as part of its broader industrial policy. It sends a message to regional competitors and foreign exporters that dumping will face consequences, especially as Malaysia pushes for greater self-reliance in strategic materials and manufacturing.
What to Watch Next
Final ruling on Nov 3 — will the provisional duties become permanent?
Responses from China, Korea, and Vietnam — could there be trade tensions?
Downstream impact on cost-sensitive industries such as construction and automotive.
Shift in supply dynamics — potential boost for local capacity utilization and investment in steel production.
Conclusion:
For investors, this anti-dumping move opens tactical opportunities in Malaysia’s steel sector, especially among listed players exposed to galvanised products. However, careful monitoring is needed as downstream sectors adjust to potential cost increases.
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