KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Malaysia is pushing to secure a trade deal with the United States by the looming August 1 deadline, targeting the lowest possible tariff, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
No to 20% Tariff
Zafrul dismissed a Bloomberg report suggesting Malaysia was negotiating for a 20% tariff.
“No, that is not the direction. The direction is to get as low as possible,” he told reporters on Thursday.
While Zafrul admitted he’s “not that confident” about achieving a tariff below 20%, he reaffirmed that it remains his target.
Regional Benchmarks
Japan: Secured a 15% tariff by opening markets and committing investments in the US.
Philippines: Got a 19% tariff by agreeing to eliminate duties on US imports.
“Every country has different challenges... We can’t offer what we don’t have or what may harm our industries,” Zafrul explained, stressing that Malaysia is seeking a balanced deal that protects local interests.
What’s on the Table?
Zafrul didn’t disclose specific concessions Malaysia is offering but hinted at ongoing discussions around easing foreign ownership caps in strategic sectors:
Commercial banks: Currently capped at 30%
Power sector: Capped at 49%
Telecom and finance: Remain strategic and protected
Other key issues include non-tariff barriers such as:
Halal certification standards
Government procurement policies
Deadline Approaching
It remains unclear whether the US will offer an extension if a deal isn’t reached by August 1.
Malaysia’s trade talks with Washington are part of a broader effort to safeguard market access while navigating sensitive domestic policies and national interests.
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