KUALA LUMPUR (July 6): The FBM KLCI opened flat this morning, tracking nervy regional markets, ahead of the U.S. deadline to commence to trade tariffs against China.  

At 9.10am, the FBM KLCI  gained 0.60 points to 1,691.25.  

The gainers included Kuala Lumpur Kepong Bhd, United Plantations Bhd, Carlsberg Brewery Malaysia Bhd, PLB Engineering Bhd, Tenaga Nasional Bhd, Pecca Group Bhd, Malayan Banking Bhd, Dialog Group Bhd and Muda Holdings Bhd.

Asian share markets were set for a bumpy ride on Friday just hours ahead of a U.S. deadline to impose tariffs on Chinese imports, which has rattled financial markets in recent weeks as investors feared it could trigger a full-blown global trade war, according to Reuters.

On Thursday, U.S. President Donald Trump confirmed that the United States would begin collecting tariffs on $34 billion worth of Chinese imports at 12:01 a.m. Washington time (0401 GMT) on Friday, and warned that subsequent rounds could see tariffs imposed on more than $500 billion worth of goods, it said.

JF Apex Securities Research in a market preview said US markets rose overnight following gains in technology counters as investors brace for US' $34 billion tariff on Chinese products.

It said that earlier, European stocks advanced as automotive counters rose after Germany agreed to reduce tariffs on cars imported from the US.

“On the local market, the FBM KLCI added 2.20 points to 1690.65 points. ‘

“Following the positive performance in the US and Europe, the FBM KLCI could extend its rebound and test its resistance of 1700 points,” it said.