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Bursa opens lower with pressure from tariff war

1 min read
Bursa
Bursa opens lower with pressure from tariff war

Bursa Malaysia opened lower as global markets reacted negatively to new US tariffs on Mexico, Canada, and China, fueling trade war concerns. The FBM KLCI dropped 9.36 points to 1,547.56, reaching a six-month low as foreign investors exited due to rising risks. US stock futures also slumped, with the Dow Jones falling 1.1% and Nasdaq down 2.2%. Stocks like YTL Power and Tenaga Nasional saw declines, while Nestle fell 48 sen to RM89.50. However, local glove makers benefited from increased tariffs on Chinese rivals, with Top Glove, Hartalega, and Kossan recording gains amid renewed investor interest.

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