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Free Malaysia Today
14-07-2025
- Business
- Free Malaysia Today
Bursa holds steady to close higher, tracking regional gains
KUALA LUMPUR : Bursa Malaysia reversed last Friday's losses to close higher today, tracking gains in regional markets. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said the key index's positive performance was underpinned by stronger-than-expected trade data from China, with exports rising 5.8% year-on-year in June, well above the 3.6% forecast. 'The data suggested that Chinese exporters were accelerating shipments ahead of the expiry of the 90-day tariff reprieve, providing some relief to global market sentiment and partially offsetting lingering concerns over Washington's tariff rhetoric,' he told Bernama. Sedek said investors will also monitor more upcoming data from China, particularly June trade figures and the second-quarter gross domestic product (GDP). 'The Chinese government is due to release the economic data tomorrow,' he said. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market sentiment remains cautious amid ongoing concerns over US tariffs, with investors closely monitoring their implications for Asean economies and global supply chains. 'Nevertheless, the benchmark index is well supported above the 1,530 level. 'While commodity-related stocks saw some selling pressure, defensive and stable names in banking, consumer and utilities showed resilience,' he noted. Thong anticipates the FTSE Bursa Malaysia KLCI (FBM KLCI) to trend within the range of 1,530-1,560 for the week. At 5pm, the FBM KLCI climbed 1.44 points, or 0.09%, to 1,537.51 from Friday's close of 1,536.07. The benchmark opened 0.10 of-a-point lower at 1,535.97 and hovered between 1,533.93 and 1,538.33 throughout the session. The market breadth was negative, with 514 decliners outpacing 432 gainers and 510 counters unchanged, while 962 were untraded and nine suspended. Turnover declined to 2.93 billion shares worth RM1.67 billion, compared with 3.37 billion shares worth RM2.3 billion last Friday. Among the heavyweight counters, Maybank gained three sen to RM9.72, while Public Bank and Tenaga Nasional rose two sen each to RM4.34 and RM13.98, respectively. CIMB and IHH Healthcare both edged up one sen to RM6.69 and RM6.59. In active trade, NexG gained two sen to 47 sen, Wentel Engineering grew 1.5 sen to 33.5 sen, Malaysian Resources Corporation added 0.5 sen to 54 sen, Zetrix AI was 1.5 sen lower at 98.5 sen, and Tanco was flat at 90.5 sen. On the index board, the FBM Emas Index gained 14.88 points to 11,558.46, the FBMT 100 Index expanded 12.30 points to 11,321.04, and the FBM Emas Shariah Index added 8.13 points to 11,560.60. The FBM 70 Index increased 25.85 points to 16,787.20, while the FBM ACE Index improved 33.35 points to 4,571.52. By sector, the financial services index gained 55.74 points to 17,663.87, the industrial products and services index shaved 0.22 points to 153.87, and the plantation index fell 16.35 points to 7,434.10. The energy index inched up 9.76 points to 747.38. The Main Market volume retreated to 1.13 billion units worth RM1.35 billion from 1.36 billion units valued at RM1.99 billion last Friday. Warrants turnover slipped to 1.46 billion units valued at RM208.01 million from 1.7 billion units worth RM203 million previously. The ACE Market volume increased to 342.18 million units valued at RM113.55 million, versus 318.83 million units worth RM107.58 million on Friday. Consumer products and services counters accounted for 171.7 million shares traded on the Main Market; industrial products and services (182.22 million), construction (82.17 million), technology (239.31 million), SPAC (nil), financial services (41.28 million), property (179.63 million), plantation (11.93 million), REITs (19.63 million), closed-end fund (22,800), energy (61.84 million), healthcare (54 million), telecommunications and media (30.31 million), transportation and logistics (21.68 million), utilities (34.41 million), and business trusts (18,500).
Yahoo
10-07-2025
- Business
- Yahoo
Is China Dodging US Tariffs? Direct Exports To America Plunge 43% As Vietnam And Indonesia See Big Spurts: Report
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. China's exports to the United States have plunged over 43% year-over-year in May, representing a $15 billion drop in trade value, yet at the same time, China's total exports have increased 4.8%, according to official figures, despite the trade and tariff-related turbulence. What Happened: On Monday, in a post on X, The Kobeissi Letter shared the latest trade data coming in official Chinese sources, hinting at the rerouting of goods to circumvent the current U.S. trade and tariff regime. The post notes that exports to the Association of Southeast Asian Nations (ASEAN) rose 15% year-over-year during the month, while shipments to the European Union climbed 12%. Meanwhile, there was a 30% spike in Chinese exports routed through Vietnam, and a similar 25% increase via Indonesia. Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — These figures have since fueled speculations that China is shifting its trade strategy, rerouting exports through regional partners to maintain global market access while reducing direct exposure to U.S. tariffs. This comes amid growing efforts made by the U.S. Government to close potential backdoors for Chinese goods. The recent trade deal with Vietnam, which involved a 40% tariff on rerouted goods, is largely aimed at the same, and is thus being seen as a 'proxy trade war' with China. Why It Matters: Economists believe that President Donald Trump's 40% tariff on rerouted goods from Vietnam could warrant backlash from China, with economist Rana Sajedi saying that it might be seen as a direct challenge, leading to targeted trade measures. The U.S. has also been urging Vietnam to reduce its reliance on Chinese technologies that are used in the production of goods that are later exported. Experts have long viewed tariffs as an opportunity for rerouting and transshipment, rather than a threat. 'During 2018-19 when similar tariffs were put into effect, cargo was rerouted through Southeast Asia, Mexico and Europe, and a similar pattern is emerging now,' says Moritz Fuhrmann, the Co-CEO of MPC Container Ships ASA (OTC:MPZZF). Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — And You Can Invest At Just $6.37/Share Arrived Home's Private Credit Fund's has historically paid an annualized dividend yield of 8.1%*, which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Photo courtesy: / This article Is China Dodging US Tariffs? Direct Exports To America Plunge 43% As Vietnam And Indonesia See Big Spurts: Report originally appeared on
Yahoo
04-07-2025
- Business
- Yahoo
What do China's surging exports mean for the world?
-- China's recent export surge is creating ripple effects across global trade, with UBS analysts warning of a potential 'second China shock.' According to UBS, 'export volumes [are] up 20%' over the past two years, compared to just 6% growth in the rest of the world, marking China's strongest trade outperformance since joining the World Trade Organization. Much of this growth is being directed toward emerging markets (EM), which now account for over half of China's exports and trade surplus, said the bank. 'That China's share of final demand is rising in sectors ranging from Latam autos to ASEAN household appliances shows that its export penetration runs far deeper than cyclical 'transshipping' effects,' UBS wrote. They add that the quality of Chinese goods is improving, and the country's export momentum continues even as negative price deflators ease. 'This isn't just about low prices… quality is playing an increasingly important role,' UBS noted. While some of China's export strengths are in building new supply chains, such as Hungarian autos and Indonesian mining, UBS cautioned that the broader trend could weigh on other EM economies. 'China's rising export competitiveness may compromise growth in the rest of EM,' the analysts warned, citing weak FDI inflows, declining manufacturing/GDP ratios, and deflationary pressures in sectors like chemicals and household products. UBS sees limited near-term progress in China's efforts to curb overcapacity. Despite higher U.S. tariffs and attempts to boost domestic consumption, 'disinflationary spillovers' are likely to persist. 'These disinflationary spillovers will leave EM central banks with more work to do,' UBS added. The implications for global markets are said to be mixed, with some EM equities potentially benefiting from looser monetary policy, particularly in countries less exposed to Chinese competition. Related articles What do China's surging exports mean for the world? Fed's Bostic says tariffs effects may take a year 'to fully play out' President Trump's views on Japan tariffs may be misinformed, says PM Ishiba
Reuters
18-06-2025
- Automotive
- Reuters
India File: EV hopes hit by China rare earths curbs
(This was originally published in the India File newsletter, which is issued every up hereto get the latest news from India and how it matters to the world.) China's curbs on exports of some rare earth materials and magnets - used in automobiles, cell phones and myriad other devices - have stirred anxiety in corporate boardrooms the world over, including in India where automakers warn that production of new vehicles could soon grind to a halt. While supplies have started to trickle in for some European and American companies, India, which has tense relations with its Asian neighbour, is still waiting. Come July, the world's third-largest car market fears severe disruptions - especially in its nascent electric vehicle sector - if magnet supplies don't resume. That is the focus of our analysis this week. And, India mourned the victims of last week's fatal airliner crash in Ahmedabad while executives from Boeing and Air India discussed the search for the cause of the disaster. Scroll down for the latest. ** US-China trade truce leaves military-use rare earth issue unresolved, sources say ** BOJ to slow pace of bond taper next year as fresh risks emerge ** ADNOC leads $18.7 billion proposal to buy Australia's Santos in LNG push ** China's factories slow, consumers unexpectedly perk up ** Trump approves Nippon Steel's $14.9 billion purchase of US Steel CHINA'S MAGNET DOMINANCE THREATENS INDIAN EV OUTPUT This was supposed to be the year that electric vehicles finally made their mark in India, the world's third-largest auto market. But China had other ideas. China has a stranglehold on global processing capacity for rare earths, which are crucial for magnets that power the motors in EVs, and it has been wielding that dominance in recent months in trade spats with the U.S. and others. India, increasingly at odds with its giant neighbour over border disputes and competing with it for influence in the region, is particularly vulnerable. Industry executives worry, moreover, that other supply chain snags may loom on the horizon, given India's reliance on China for EV batteries as well. Tata Motors ( opens new tab and Mahindra & Mahindra ( opens new tab, two of India's biggest EV makers, depend almost entirely on batteries from China's BYD Co ( opens new tab and Gotion ( opens new tab. China's decision in April to restrict its exports of rare earth materials and magnets comes at a crucial time for India, with several EV launches lined up this year including the first from its top carmaker, Maruti Suzuki ( opens new tab. Maruti has been forced to cut its near-term production targets for its e-Vitara EV due to rare earth supply constraints, while hoping to recover lost ground later in the year as availability improves - an approach analysts say other Indian automakers could adopt to avoid a complete output halt. Bajaj Auto ( opens new tab, a major producer of electric scooters in India, has also warned of a serious cutback in EV production by July if Beijing does not approve rare earth import permits soon. While India has initiated talks with China on stabilising supplies, the industry fears progress could be slow, not only because Beijing is overwhelmed with similar requests from across the world, but also given the tense relationship between the two Asian giants. Five years ago, in a move aimed at Chinese corporate takeovers in India that New Delhi saw as opportunistic, the trade ministry placed restrictions on investments from nations that share a land border with India. Chinese automakers BYD Co ( opens new tab and Great Wall Motor ( opens new tab were both forced to drop billion-dollar investment plans for Indian car manufacturing. Since 2020, New Delhi has banned dozens of Chinese apps such as TikTok and WeChat over national security concerns, and is yet to resume direct flights between India and China that were halted during the pandemic. For now, India has no reasonable alternatives to rare earth magnets from China, which controls about 90% of the world's production. But for the medium-to-long term, New Delhi plans to make good use of its own rare earth reserves - the world's fifth-largest at 6.9 million metric tons. It is urgently drawing up an incentive scheme for domestic rare earth magnet production, although it lacks reserves of some of the heavy rare earths needed to make magnets, as well as much of the technology to produce them. Auto companies warn that any domestic commercial production of magnets from rare earths or alternative materials would need extensive testing and is likely many years away. India also has asked state-run miner IREL to stop exports of rare earth materials, forcing it to walk back on a 13-year-old supply agreement with Japan as it prioritises national interests. Prime Minister Narendra Modi wants EVs to make up 30% of India's total passenger car sales by 2030, versus about 2.5% in 2024, both to meet his decarbonisation goals and to clean up the air over India's cities, which are some of the world's most polluted. Analysts say that, while it may take India a decade to build its own EV supply chain, it must start now if Modi is to achieve those targets. Will China disrupt India's EV story by curbing supplies of crucial parts like magnets and, potentially, batteries? What are your thoughts? Write to me at opens new tab UPDATE ON AIR INDIA CRASH India this week was mourning victims of last Friday's air disaster in Ahmedabad that killed all but one of the 242 people on board, while executives from Boeing and Air India met to discuss their search for the cause of the crash. India's aviation regulator has ordered the inspection of all Boeing 787 jets operated by domestic carriers. Read here for what we know so far about the Air India crash and investigation. MARKET MATTERS India's trade deficit narrowed marginally to $21.88 billion in May, from $26.42 billion the previous month, due in part to moderation in oil and gold imports, economists said. Markets are closely watching trade statistics for any signs of front-loading of shipments during the 90-day pause on planned reciprocal tariffs by the U.S., which ends on July 8. India's exports in May were $38.73 billion, 2% below a year ago, but shipments of electronic goods surged 47% while chemicals rose 16%. Exports of gems and jewellery fell sharply. Read here to understand more about the data and don't miss this exclusive report on a surge in shipments of Apple iPhones from India to the U.S.
Reuters
16-06-2025
- Business
- Reuters
China sells coking coal to Indonesia in rare trade, sources say
BEIJING/SINGAPORE, June 16 (Reuters) - China sent a rare shipment of at least three cargoes of coking coal to processors in Indonesia's Sulawesi in May, sources familiar with the matter said, encroaching on a market typically dominated by supplies from Australia and Indonesia. The world's biggest importer of coking coal, China is not a major exporter of the steelmaking fuel, and has exported it to Indonesia only three times since the start of 2024, monthly Chinese customs data shows. State-run Shanxi Coking Coal Group ( opens new tab sold coking coal to China Risun Group ( opens new tab, which was later exported to Indonesia last month, three sources said. Risun runs one of the largest coke-processing plants in Indonesia's Sulawesi region. The state-run group sold another cargo to Hong Kong Jinteng Development Ltd for export to Indonesia, the source said, while the second source added that it also sold a third cargo to a Dexin Steel plant in Indonesia. The sources sought anonymity as they were not authorised to speak on the issue. Shanxi Coking Coal, China Risun and Dexin Steel did not immediately respond to requests seeking comment. Reuters was unable to reach Hong Kong Jinteng Development Ltd. Independent consultant Lawrence Yan said the moves were designed to test the economic feasibility of Chinese supply and show traditional sellers, such as Australia, that Indonesian plants had alternatives. Higher costs and strong competition from Russia and Mongolia made it unlikely the trade would become mainstream, however, he added. In the longer term, as China's slowing steel industry could free up supply of coking coal, turning it into a regular export product, an executive at Chinese trading house Winsway said last week. China exported 78,030 metric tons of coking coal to Indonesia in April, the first shipment since last July. Data for May is not available yet. Coke processing plants in Sulawesi have emerged as a supply hub for metallurgical coke - a raw material used by steelmakers, boosting demand for coking coal, which is used to make the coke. Indonesia's exports of met coke hit a record high in 2024, according to data from Kpler. However, the region is now struggling with overcapacity, one of the sources said, with utilisation at only 60% to 70%. Indonesia's met coke exports have also been hit by December's import curbs imposed by major buyer India.
