KUALA LUMPUR (Dec 3): The FBM KLCI fell 0.61% this morning, in line with regional markets after several of US President Donald Trump’s tariff plans rattled equity markets.
At 9.10am, the FBM KLCI fell 9.49 points to 1,561.06.
The top losers included Dutch Lady Milk Industries Bhd, Fraser & Neave Holdings Bhd, Petronas Dagangan Bhd, Hong Leong Bank Bhd, British American Tobacco (M) Bhd, Petronas Chemicals Group Bhd, Public Bank Bhd and IHH Healthcare Bhd.
Asian stocks looked set to fall Tuesday on renewed worries over global trade and disappointing U.S. factory data. The yen climbed, according to Bloomberg.
Futures in Japan, Australia and Hong Kong pointed lower, with a U.S. proposal for tariffs on $2.4 billion of French goods set to impact sentiment. Earlier, the S&P 500 Index fell the most in almost eight weeks after President Donald Trump reinstated levies on steel and aluminum from Argentina and Brazil and amid concerns the U.S. will slap fresh tariffs on China. The dollar slid against most major peers. Ten-year Treasury yields closed higher but off their intraday peak, it said.
JF Apex Securities Research said US markets tumbled overnight after weak manufacturing data and uncertainty on US-China trade deal ahead of the Dec 15 deadline.
It said that similarly, European stocks plunged after US President Trump threatened to impose tariffs on metal imports from Brazil and Argentina.
“On the local market, the FBM KLCI gained 8.81 points to 1570.55 points.
“Following the bearish performances in the US and Europe, the FBM KLCI could remain pressured with support at 1550 points,” it said.