FBM KLCI closes slightly higher ahead of Trump's trade decision
Trump said his administration would begin sending letters to trading partners on Friday, outlining unilateral tariff rates that will take effect on Aug 1.
The FBM KLCI closed 1.2 points higher, or 0.08%, at 1,550.19, after reaching an intraday high of 1,551.78. For the week, the benchmark index advanced about 1.4%.
Winners and losers were closely balanced, with 489 gainers and 466 losers, while 509 counters were unchanged. A total of about 3.4 billion shares worth RM2.5bil changed hands.
Genting Plantations was the top gainer, rising 22 sen to RM5.23, followed by NationGate, which climbed 11 sen to RM1.78, Heineken, which gained 10 sen to RM25.44, and Hong Leong Industries, which added 10 sen to RM13.52.
Conversely, Nestle tumbled RM2.48 to RM77.52, Dutch Lady slipped 54 sen to RM29.14, PETRONAS Dagangan eased 40 sen to RM21.56, and Westports fell 22 sen to RM5.58.
Meanwhile, the ringgit slipped 0.04% to 4.2242 against the US dollar but edged up 0.05% to 3.3154 against the Singapore dollar.
Regional markets ended broadly lower, with losses in South Korea, Taiwan, Hong Kong, and Singapore outweighing modest gains in Japan and China.
Among the key markets:
Japan's Nikkei 225 gained 0.06% to 39,810.88;
South Korea's Kospi lost 1.99% to 3,054.28;
Hong Kong's Hang Seng Index fell 0.65% to 23,916.06;
China's CSI 300 Index added 0.36% to 3,982.20;
Taiwan's Taiex closed down 0.73% at 22,547.50 and;
Singapore's Straits Times Index fell 0.18% to 4,012.21 points.
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The Sun
18 minutes ago
- The Sun
Trump threatens extra 10% tariffs on BRICS as leaders meet in Brazil
RIO DE JANEIRO: President Donald Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the 'Anti-American policies' of the BRICS group of developing nations, whose leaders kicked off a major summit in Brazil on Sunday. With forums such as the G7 and G20 groups of major economies hamstrung by divisions and the disruptive 'America First' approach of the U.S. president, BRICS is presenting itself as a haven for multilateral diplomacy amid violent conflicts and trade wars. In opening remarks to the BRICS summit in Rio de Janeiro, Brazil's President Luiz Inacio Lula da Silva drew a parallel with the Cold War's Non-Aligned Movement, a group of developing nations that resisted joining either side of a polarized global order. 'BRICS is the heir to the Non-Aligned Movement,' Lula told leaders. 'With multilateralism under attack, our autonomy is in check once again.' In a joint statement released on Sunday afternoon, the group warned the rise in tariffs threatens global trade, continuing the group's veiled criticism of Trump's U.S. tariff policies. Hours later, Trump warned he would punish countries seeking to join with the grouping. 'Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!' Trump said in a post on Truth Social. Trump did not clarify or expand on the 'Anti-American policies' reference in his post. Trump's administration is seeking to finalize dozens of trade deals with a wide range of countries before his July 9 deadline for the imposition of significant 'retaliatory tariffs'. BRICS nations now represent more than half the world's population and 40% of its economic output, Lula noted in remarks on Saturday to business leaders, warning of rising protectionism. The original BRICS group gathered leaders from Brazil, Russia, India and China at its first summit in 2009. The bloc later added South Africa and last year included Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates as members. This is the first summit of leaders to include Indonesia. More than 30 nations have expressed interest in participating in the BRICS, either as full members or partners. GROWING CLOUT, COMPLEXITY Expansion of the BRICS has added diplomatic weight to the gathering, which aspires to speak for developing nations across the Global South, strengthening calls for reforming global institutions such as the United Nations Security Council and the International Monetary Fund. 'If international governance does not reflect the new multipolar reality of the 21st century, it is up to BRICS to help bring it up to date,' Lula said in his remarks, which highlighted the failure of U.S.-led wars in the Middle East. Urging the BRICS to take the lead on reforms, Lula reflected on the G20 summit hosted in the same locale last November: 'In a short period of time, the international scene has deteriorated to the point that some of the initiatives we approved then would no longer be possible now.' Stealing some thunder from this year's summit, Chinese President Xi Jinping chose to send his premier in his place. Russian President Vladimir Putin is attending online due to an arrest warrant from the International Criminal Court. Still, several heads of state were gathered for discussions at Rio's Museum of Modern Art on Sunday and Monday, including Indian Prime Minister Narendra Modi and South African President Cyril Ramaphosa. However, there are questions about the shared goals of an increasingly heterogeneous BRICS group, which has grown to include regional rivals along with major emerging economies. In the joint statement, the leaders called attacks against Iran's 'civilian infrastructure and peaceful nuclear facilities' a 'violation of international law.' The group expressed 'grave concern' for the Palestinian people over Israeli attacks on Gaza, and condemned what the joint statement called a 'terrorist attack' in India-administered Kashmir. The group voiced its support for Ethiopia and Iran to join the World Trade Organization, while calling to urgently restore its ability to resolve trade disputes. The leaders' joint statement backed plans to pilot a BRICS Multilateral Guarantees initiative within the group's New Development Bank to lower financing costs and boost investment in member states, as first reported by Reuters last week. In a separate statement following a discussion of artificial intelligence, the leaders called for protections against unauthorized use of AI to avoid excessive data collection and allow mechanisms for fair payment. Brazil, which also hosts the United Nations climate summit in November, has seized on both gatherings to highlight how seriously developing nations are tackling climate change, while Trump has slammed the brakes on U.S. climate initiatives. China and the UAE signaled in meetings with Brazilian Finance Minister Fernando Haddad in Rio that they plan to invest in a proposed Tropical Forests Forever Facility, according to two sources with knowledge of the discussions about funding conservation of endangered forests around the world.
Malay Mail
22 minutes ago
- Malay Mail
Kenanga Investment Bank's NagaWarrants Unlocks New Trading Frontiers with HSCEI and HSTECH Warrants
From left to right: Kenneth Teoh, Deputy Head, Equity Derivatives, Kenanga Investment Bank Berhad ("KIBB"); Luk Wai Hong, William, Non-Independent Non-Executive Director, KIBB; Angeline-Ong Su Ming, Independent Non-Executive Director, KIBB; Philip Lim, Head, Equity Markets & Group Head, Equity Derivatives, KIBB; Datuk Chay Wai Leong, Group Managing Director, KIBB; Datuk Lee Kok Khee, Executive Director, Head of Group Equity Business, KIBB; Jeremy Nasrulhaq, Senior Independent Non-Executive Director, KIBB; Anita Mo, Chief Executive Officer, Hang Seng Indexes Company; Isabelle Zhen, Head, Group Equity Marketing, KIBB Bursa Excellence Awards: Best Structured Warrants Issuer (2021 and 2024) (Equity and Index) Best Structured Warrants Issuer (2021 and 2024) (Equity and Index) Global Banking & Finance Awards (UK): Best Warrants Issuer & Best Market Maker (2024 and 2025) Best Warrants Issuer & Best Market Maker (2024 and 2025) FinanceAsia (HK): Most Innovative Use of Technology (2024 and 2025) KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 7 July 2025 - Kenanga Investment Bank Berhad ("" or ""), Malaysia's no. 1 issuer of structured warrants, proudly announces the launch of its first-ever Hang Seng China Enterprises Index ("") structured warrants – HSCEI-CAA and HSCEI-HBA – and Hang Seng TECH Index ("") structured warrants – HSTECH-C30 and HSTECH-H27 – under its flagship brand, NagaWarrants by Kenanga ("").This launch marks a strategic expansion of the Group's East Asia footprint, following the successful introduction of Hang Seng Index ("HSI") structured warrants – HSI-CIW and HSI-HMO – in 2021. 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In 2024, the structured warrants segment on Bursa Malaysia recorded a turnover of RM30.3 billion, contributing approximately 4% to the exchange's total market turnover of RM848.7 launch of HSCEI and HSTECH structured warrants is expected to broaden market participation, diversify product offerings, and boost overall liquidity – particularly among retail traders already familiar with Hang Seng Index warrants."The launch of HSCEI and HSTECH structured warrants marks a pivotal step in our mission to democratise access to global markets. As Malaysia's leading issuer, Kenanga Group remains committed to driving innovation, expanding investor opportunities, and shaping the future of structured warrants. This initiative reflects our long-term vision to empower a new generation of traders while reinforcing our leadership in the region's capital markets," said Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Berhad."In 2024, NagaWarrants achieved a record-breaking market share of 52%, with a total turnover of RM15.7 billion. This milestone also marks our 300Hang Seng-listed structured warrant on Bursa Malaysia – a testament to our relentless drive to innovate and serve the evolving needs of Malaysian traders," added Datuk Lee Kok Khee, Executive Director, Head of Group Equity Business of Kenanga Investment Bank product innovation, NagaWarrants continues to empower investors through a blend of educational outreach and advanced analytics. In 2024, it hosted over 50 webinars and events, earning thein 2022, 2023 and 2025. At the same time, its adoption of machine learning models – which analyse interest rate movements, market trends, and regional dynamics to anticipate demand fluctuations – has enhanced precision in warrant recognition of its leadership and innovation, Kenanga Group has received several prestigious accolades, including:Looking ahead, Kenanga Group remains committed to supporting investors through innovation, education and access to global markets. To explore trading opportunities and stay informed, visit or join our Telegram community (@NagaWarrants).Hashtag: #KenangaInvestmentBank The issuer is solely responsible for the content of this announcement. Kenanga Investment Bank Berhad (197301002193 (15678-H)) Established for over 50 years, Kenanga Investment Bank Berhad ("The Group") is a leading financial group in Malaysia, offering a wide range of services, including equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending, and trade financing. The Group's digital innovations include the launch of KDi GO, a wealth-centric app, along with game- changing products such as Rakuten Trade, Malaysia's first fully digital stockbroking platform, and Kenanga Digital Investing, an A.I. robo-advisor. Kenanga has garnered multiple awards, including top honours at the Bursa Excellence Awards 2024 and The Edge Malaysia Centurion Club 2023. The Group also secured the Top 20 Overall Excellence and the Niche Cap Excellence Award at the National Corporate Governance and Sustainability Awards 2024. 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Malaysiakini
an hour ago
- Malaysiakini
Additional 10pct tariff for nations aligning with Brics' 'anti-American policies'
US President Donald Trump warned late Sunday that any country that aligns itself "with the anti-American policies' of the Brics economic bloc will face an additional 10 percent tariff, Anadolu Ajansi reported. "There will be no exceptions to this policy," he wrote on his Truth Social platform. In another post, he announced that...
