KUALA LUMPUR: The FBM KLCI ended lower today but closed off its intraday low, weighed down by losses in heavyweights amid the intensifying trade war between the United States and China.
The benchmark 30-stock index slipped 8.37 points, or 0.57%, to close at 1,454.76, taking its full-week drop to 3.3% or 49.38 points.
On Bursa Malaysia, 472 counters advanced, 444 declined, while 456 remained unchanged, with a turnover of 2.8 billion shares worth RM2.5bil.
China has announced a 125% tariff hike on U.S. imports in response to U.S. President Donald Trump’s decision to raise duties on Chinese goods to 145%, while granting a 90-day reprieve to most other trading partners.
Dealers noted that stocks have been on a roller-coaster ride in response to recent tariff announcements. Investors remain on edge over the escalating trade war between the US and China, which has triggered fresh volatility across global markets and heightened concerns about further disruptions to trade and supply chains.
Looking ahead, they said market sentiment is likely to stay cautious as investors watch for further developments in the US-China trade tensions.
Losers on Bursa Malaysia included PETRONAS Dagangan, which dropped 32 sen to RM18.96, Malaysian Pacific Industries
, down 28 sen to RM14.80, CIMB, which eased 26 sen to RM6.65, and Dutch Lady, which declined 26 sen to RM27.86.
Among the gainers, F&N jumped 48 sen to RM24.02, BLD Plantation added 28 sen to RM10.80, United Plantations gained 26 sen to RM21.50 and Hong Leong Industries climbed 26 sen to RM13.20.
Around the region, the MSCI's Asia ex-Japan stock index rose by 1.36%. Among the key regional markets:
Japan’s Nikkei 225 closed down by 2.96%, settling at 33,585.58;
Hong Kong’s Hang Seng Index gained 1.13%, reaching 20,914.69;
China’s CSI 300 Index advanced by 0.41%, ending at 3,750.52;
Taiwan’s Taiex rose 2.78%, closing at 19,528.77;
South Korea’s Kospi closed down 0.5% to 2,432.72 and;
Singapore’s Straits Times Index fell 1.83% to 3,512.53 points.
