KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Quick Summary Malaysia’s effective US tariff rate may ease to 14.3% US Supreme Court struck down Trump’s reciprocal tariffs under IEEPA Malaysia remains relatively competitive within ASEAN Electronics and semiconductor exports continue to enjoy exemptions What Changed? The Supreme Court of the United States ruled that President Donald Trump did not have authority under the International Emergency Economic Powers Act (IEEPA) to impose reciprocal tariffs. Following the ruling: The US replaced them with a blanket Section 122 tariff , initially 10%, later raised to 15% US Customs stopped collecting tariffs deemed illegal from Feb 24 Malaysia’s Effective Rate: What It Means According to Maybank Investment Bank : Current effective US tariff rate: 15.6% Expected to settle at: 14.3% Overall US headline tariff: 15% Malaysia’s rate remains: Lower than Indonesia, Vietnam, Thailand and the Philippines Slightly above the global ...