Bursa Malaysia saw a rebound as global equity markets reacted to US President Trump's temporary suspension of tariffs on Mexico and Canada. However, investors remain cautious due to ongoing trade war concerns. The market is expected to remain volatile as investors seek safe havens like gold.
Bursa Malaysia experienced a rebound as global equity markets stabilized slightly following US President Donald Trump 's decision to temporarily suspend proposed tariffs on Mexico and Canada . However, investors remain cautious about the potential escalation of a trade war between the US and its major trading partners. In response to the heightened volatility in equities, funds are shifting towards safer asset classes, particularly gold, whose prices have surged past USD2,800 per ounce.
Rakuten Trade predicts that the index will likely fluctuate within the range of 1,550-1,560 as investors adopt a wait-and-see approach until the current market uncertainties subside.Despite the overall market recovery, Trump has implemented an additional 10% tariff on Chinese exports, including shipments of rubber medical and surgical gloves to the US. This development is anticipated to be beneficial for local glove manufacturers, which have witnessed a surge in share prices following the news. Malacca Securities Research suggests that the recent decline in construction stocks presents a compelling opportunity for investors seeking to capitalize on the J-S-E-Z initiatives and ongoing data center developments in the country. Among the leading decliners on Bursa Malaysia, Nestle fell 76 sen to RM89.04, Hong Leong Bank dropped 10 sen to RM20.18, and PETRONAS Chemicals shed nine sen to RM4.32. Conversely, Guan Chong surged 19 sen to RM4.42, and Sunway Construction gained nine sen to RM3.59. In the actively traded segment, Harvest Miracle advanced 1.5 sen to 20 sen, Oriental Kopi rose one sen to 86.5 sen, Compugates remained unchanged at 1.5 sen, and YTL Power climbed one sen to RM3.06. Meanwhile, the Ringgit opened higher against the US dollar following Trump's decision to postpone tariffs on Canada and Mexico
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