KUALA LUMPUR, Nov 12 (Bernama) -- Bursa Malaysia extended its losing streak for a fourth consecutive session, closing lower on Thursday amid continued broad-based selling that weighed on market sentiment, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 9.23 points or 0.57 per cent to 1,585.96 from Wednesday's close of 1,595.19. The benchmark index opened 3.61 points lower at 1,591.58 and fluctuated between an intraday low of 1,583.66 and a high of 1,592.89 throughout the day. Market breadth remained negative with losers thumping gainers 799 to 318, while 476 counters were unchanged, 1,181 untraded and 13 suspended. Turnover climbed to 3.06 billion units valued at RM2.56 billion compared with yesterday’s 2.90 billion units valued at RM2.33 billion.
Key Takeaways The European Commission has proposed eliminating tariffs on US industrial goods as part of last month’s EU–US trade deal. In return, Washington reduced tariffs on EU-built cars to 15% from 27.5% , effective Aug 1. The move avoids a full-blown trade war, though the agreement remains asymmetric, with the EU making broader concessions. EU proposals also include limited agricultural openings, while maintaining protection on sensitive sectors like beef and poultry. Deal Structure The framework deal was struck on July 27 between US President Donald Trump and European Commission President Ursula von der Leyen. The EU accepted a broad 15% tariff across many exports to avert Trump’s threatened 30% blanket duties on EU goods. While two-thirds of EU–US trade in industrial goods is already tariff-free, Brussels will now remove residual duties averaging 1.35% . For US farm produce, concessions include zero tariffs on potatoes , reduced t...