Bursa Malaysia fell to six-month lows as US tariffs on Mexico, Canada, and China sparked global market turmoil. The FBM KLCI dropped 9.36 points, with foreign funds pulling out amid a risk-averse sentiment. US stock futures also plummeted, with investors fearing higher inflation. Local glove makers saw gains due to increased tariffs on Chinese competitors.
KUALA LUMPUR: Bursa Malaysia is in for another rocky session as the US's announcement of tariffs against Mexico, Canada and China over the weekend sparked the start of a trade war that has pummelled global equities.
US stock futures are on a sharp retreat at the time of writing, with the Dow Jones falling 1.1% and the Nasdaq shedding 2.2% as investors turn wary over the prospect of the higher tariffs driving up inflation. Local glove makers, however, were seeing some positive price action given the increased tariffs on their Chinese counterparts. Top Glove gained four sen to RM1.24,Rakuten Trade said in its market outlook that there is yet to be any sign of a post-Chinese New Year rally although the local bourse seemed ripe for some stock accumulation.
TRADE WAR TARIFFS BURSA MALAYSIA FBM KLCI GLOBAL MARKETS
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