KUALA LUMPUR, June 24 (Bernama) -- Bursa Malaysia finished higher on Wednesday as bargain-hunting activities emerged following recent pullback in the market, analysts said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 0.13 per cent, or 2.21 points, to 1,682.13 from Tuesday’s close of 1,679.92. The index opened 2.11 points better at 1,682.03 and moved between 1,680.49 and 1,690.66 throughout the trading session. Market breadth was positive with gainers outpacing decliners 518 to 483, while 564 counters were unchanged, 1,175 untraded and 41 suspended. Turnover shrank to 2.76 billion units valued at RM2.42 billion against 3.35 billion units worth RM3.12 billion on Tuesday.
The Trump administration is preparing a major overhaul of US steel and aluminum tariffs , with changes that could raise effective costs for importers while simplifying compliance for manufacturers. Shift to Simpler but Broader Tariff Structure Under the proposed changes, finished goods containing steel and aluminum will face a 25% tariff on the full product value , replacing the current system. Previously, tariffs of up to 50% applied only to the metal content within a product. The new approach simplifies calculation but broadens the taxable base , potentially increasing overall duties. Commodity-grade metals will still face 50% tariffs , maintaining strong protection for domestic producers. The policy is being driven by Donald Trump ’s push to reshore manufacturing and strengthen domestic industry . Higher Costs Despite Lower Headline Rates While the headline tariff rate appears lower, the impact is likely the opposite. By app...