FBM KLCI Stays Lower At Midday As Regional Markets Trade Mixed
KUALA LUMPUR, July 21 (Bernama) -- Bursa Malaysia remained lower at the lunch break, while regional market performance across was mixed as ongoing trade tensions continued to weigh on sentiment.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) erased 5.27 points, or 0.34 per cent, falling to 1,520.59 from last Friday's close of 1,525.86.
The benchmark index was 0.60 of a point better at 1,526.46 at the opening bell, and subsequently moved between 1,520.02 and 1,526.70 throughout the session.
Across the broader market, decliners thumped advancers 639 to 228, while 416 counters were unchanged, 1,184 untraded and eight suspended.
Turnover stood at 2.34 billion units worth RM1.43 billion.
In a research note, Malacca Securities Sdn Bhd said US stocks ended mixed, as President Donald Trump's proposed tariffs between 15 per cent and 20 per cent on European Union (EU) imports reignited trade tensions.
'Wall Street ended mixed last Friday as investors digested strong consumer sentiment alongside persistent trade uncertainties. Trump is considering imposing higher tariffs on EU imports, above the 10 per cent rate that the bloc is hoping for, signalling stalled negotiations ahead of the Aug 1 deadline,' it said.
Back home, Malaysia's gross domestic product growth estimate of 4.5 per cent year-on-year for the second quarter of this year, released by the Department of Statistics Malaysia, beat Bloomberg's median forecast of 4.2 per cent, driven by strength in the services sector.
'However, growth momentum may moderate in 2H 2025 amid Trump's tariff headwinds and the Sales and Services Tax expansion. Nevertheless, we continue to favour the construction and utilities sectors, supported by the ongoing data centre investment boom and infrastructure developments," the brokerage firm added.
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