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.
The Trump administration’s sweeping 50% copper import tariff, set to take effect on August 1, will reportedly cover all refined copper, according to Bloomberg sources — a move poised to shake global commodity markets and intensify inflationary pressure across key industries.
Why It Matters:
Refined copper is a critical material powering everything from electric grids and automobiles to electronics and construction. By targeting the largest category of US copper imports, the administration is signaling its intent to revive domestic production — but potentially at the cost of higher prices and tighter supply.
“This is far-reaching and will have widespread implications for manufacturing and infrastructure,” said one analyst familiar with the developments.
Additional Tariff Targets:
The scope is also expected to include semi-finished copper products, broadening the tariff’s impact even further. The proposed measures are not yet finalized and remain subject to change before the formal announcement.
Industry Pushback:
Hours after the surprise announcement, the White House’s Council of Economic Advisers met with industry players voicing concern over the unintended consequences. Companies like Rio Tinto, Southwire, and Trafigura argued for export controls on copper scrap and ore instead — noting the US exports more scrap than it consumes, and this surplus is critical for global recycling markets.
Market Impact:
Copper prices and industrial stocks will be closely watched in the coming weeks, especially if:
Supply disruptions emerge
Domestic manufacturers struggle to fill the gap
Inflation fears resurface
Takeaway:
Trump’s copper tariff is not just a trade policy shift — it’s a strategic lever in the race to dominate the green and digital economies. For investors, copper-linked equities, infrastructure plays, and inflation hedges may see heightened volatility — and opportunity.
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