On Thursday morning, Malaysia's equities experienced a robust surge, climbing 65 points, or 4.6%, to reach a level of 1,465. This marks a recovery from their lowest point in over 16 months, which was recorded the previous day. The KLCI Index's upturn mirrored the rally observed on Wall Street the day before, prompted by U.S. President Donald Trump's announcement of a 90-day suspension of reciprocal tariffs for most American trading partners, with China being the exception.
Trade and Investment Minister Zafrul Aziz expressed appreciation for President Trump's decision, while emphasizing that Malaysia remains committed to advocating for a coordinated regional response to the ongoing trade challenges. Notably, only a week prior, President Trump had levied a 24% tariff on numerous Malaysian products.
All sectors traded positively, with notable performances in the electronic technology sector, which soared by 11.9%, followed by energy minerals with an 8.7% increase, and health technology, which rose by 7.9%. Key companies that contributed to the market upswing include CIMB Holdings, which advanced by 9.0%, Petronas Chemicals by 7.5%, Petronas Dagangan by 6.6%, Maybank by 5.0%, and Hong Leong by 3.5%.
