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.
In a dramatic pivot from months of trade diplomacy, U.S. President Donald Trump confirmed Thursday that his administration will forgo most trade negotiations and instead unilaterally impose tariff rates via letters sent directly to trading partners—starting as early as Friday. From Deals to Directives Rather than pursuing 170+ bespoke trade agreements, Trump now favors a “simple and efficient” model : tariff letters dispatched to 10 countries at a time, specifying rates ranging from 10% to 50% on U.S. imports. According to Trump, the shift is pragmatic: “How many deals can you make with over 170 countries? They’re complicated,” he told reporters. This abrupt change comes days before the July 9 deadline , when the White House’s 90-day tariff pause—originally intended to encourage bilateral talks—expires. Despite initial goals to finalize 90 trade agreements in 90 days , very few deals have materialized. Market Implications: Simplified...