Bursa ends higher on tariff truce
PETALING JAYA: Bursa Malaysia extended its upward momentum to close higher, boosted by news of the United States' decision to extend its 90-day tariff truce with China until Nov 10, which lifted market sentiment.
At 5pm, the FBM KLCI rose 4.66 points, or 0.30%, to close at 1,567.90 from Monday's close of 1,563.24.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said major Asian indices also trended positively as investors welcomed news that the United States and China had agreed to extend their tariff truce by 90 days, avoiding steep duties.
'The deal maintains existing US tariffs at 30% and Chinese tariffs at 10%, providing additional time for negotiations and lifting investor sentiment across the region,' he told Bernama.
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