KUALA LUMPUR: Bursa Malaysia’s benchmark index was 0.52 per cent lower in early trade, in tandem with regional markets as US President Donald Trump announced tariffs of at least 10 per cent on all countries, effective April 5 and “individualised reciprocal higher tariff” on certain countries effective April 9.
All other countries will continue to be subject to the original 10 per cent tariff baseline.
ASEAN countries will be among the hardest hit with Malaysia to face a 24 per cent reciprocal tariff versus Cambodia’s 49 per cent.
At 9.03 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.95 points to 1,518.57 from Wednesday’s close of 1,526.52. The benchmark index had opened 9.22 points easier at 1,517.30.
Decliners trounced gainers 301 to 71, while 180 counters were unchanged, 1,795 untraded, and eight suspended.
Turnover stood at 133.05 million shares worth RM59.27 million.
SPI Asset Management managing partner Stephen Innes said global equities were buckling and Asian markets could face the worst of the tariff fallout.
“No surprise there. It’s the epicentre of this trade shock. Bursa Malaysia will be no exception. What markets were bracing for was a symbolic slap on the wrist. What they got was a full-blown tariff haymaker. This is not just panic and awe — it’s the first wave of repricing,” he told Bernama.
Innes said the real damage would bleed through as the week unfolds, particularly when the macro data starts to reflect the incoming storm.
“Traders are not waiting — they are already front-running the idea that this tariff blitz could tip the US economy into recession, especially with The White House doubling down on fiscal tightening. It’s a dangerous cocktail — trade war on one side, spending cuts on the other,” he added.
Regionally, Japan’s Nikkei 225 slipped 3.29 per cent to 34,548.84, Singapore’s Straits Times Index declined 0.37 per cent to 3,954.21, and Hong Kong’s Hang Seng Index fell 0.02 per cent to 23,202.53.
Back home, as for Bursa Malaysia’s heavyweights, IHH Healthcare advanced seven sen to RM6.96, TNB, CelcomDigi and Petronas Gas were flat at RM13.67, RM3.62 and RM16.88, respectively.
Maybank eased six sen to RM10.26, Public Bank dwindled two sen to RM4.37, CIMB reduces six sen to RM7.08 and Hong Leong Bank gave up 20 sen to RM20.18.
Among the actives, T7 advanced 2.5 sen to 34.5 sen, Top Glove increased 1.5 sen to 82 sen, Supermax went up 5.0 sen to 76.5 sen and TA Win and Green Packet was flat at 2.5 sen and 3.0 sen, respectively. Sapura Energy and Minox inched down half-a-sen each to 4.5 sen and 24 sen, respectively.
On the index board, the FBM Emas Index dipped 65.83 points to 11,324.49, the FBMT 100 Index was 63.43 points easier at 11,095.73, and the FBM Emas Shariah Index shaved 60.21 points to 11,074.76.
The FBM 70 Index lost 113.40 points to 16,093.01 while the FBM ACE Index fell 43.32 points to 4,723.74.
Sector-wise, the Financial Services Index dropped 114.54 points to 18,457.76, the Industrial Products and Services Index trimmed 1.48 points to 150.41, the Energy Index went down 5.72 points to 739.33, and the Plantation Index narrowed 49.47 points to 7,358.64.
