Malaysia Equities Plunge to 6-Month Low
In a turbulent session on Wednesday morning, Malaysia's stock market saw a significant drop, with the KLCI Index falling by 27 points, or 1.9%, to settle at 1,417. This decline follows a stagnation in the market observed the previous day and was largely influenced by a negative trend on Wall Street due to mounting trade tensions. The heightened anxiety comes ahead of the U.S. implementing new tariffs on Chinese goods, set at approximately 10–4%, which are scheduled to come into effect today. The KLCI Index registered its lowest level since early October, primarily impacted by widespread losses across almost all sectors, particularly industrial services and consumer durables. Despite assurances from Malaysia's central bank governor about the country's diverse economic structure helping to cushion against the 24% U.S. tariff on Malaysian exports, investor sentiment remained subdued. Market participants are also looking ahead to consumer and producer price data from China later this week, which could further reflect weakened domestic demand. Among the hardest-hit stocks were CIMB Group, which dropped 3.6%, Petronas Chemicals with a decline of 3.1%, Petronas Gas Berhad falling 2.8%, Hong Leong down by 1.7%, and Maybank with a 1.4% decrease.
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