KUALA LUMPUR: Bursa Malaysia opened positive with the key index barely hanging on above the 1,600 mark, as investors shrug off Donald Trump' s tariff threats.
Trump said he would impose additional 10 per cent tariffs on goods from China and 25 per cent tariffs on all products from Mexico and Canada.
At 9.21 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.08 per cent, adding 1.24 points to 1,604.39, from its previous close of 1,603.15.
The broader market showed a positive trend, with 271 gainers outpacing 245 losers, while 317 counters remained unchanged.
Rakuten Trade Sdn Bhd's equity research vice president Thong Pak Leng said the FBM KLCI managed to close above the 1,600 level as he noticed a hint of "window dressing" activities. "Nonetheless, market velocity remains muted as illustrated by the lacklustre daily volume of only 2.5 billion units."At this juncture, we believe the index may find it difficult to breach the 1,700 mark due to the absence of strong catalysts."As for corporate earnings, it has been a mixed bag without any excitement thus far," he said.
Thong anticipates the index to fluctuate between the 1,600 and 1,610 range today.