Bursa Malaysia's FBM KLCI was among a host of major Asian bourses that had appreciated in yesterday's trading session, apparently standing resilient in the face of the 25% tariff imposed by President Donald Trump on all vehicles and foreign-made auto parts imported into the United States.
Investor Ian Yoong anticipates that what Trump has announced on foreign vehicles yesterday would be “small potatoes” compared with what would be coming on April 2, also called “Liberation Day”, which is the date the latter has chosen to launch a barrage of reciprocal tariffs.“Hence, the lack of reaction by Asian markets,” he commented.
On the other hand, Lau pointed out the well known fact that the Middle Kingdom is already supplying a large number of vehicles in recent years to the Malaysian automotive market, which is taking market share from industry players such as Bermaz Auto Bhd and distributors of renowned Japanese vehicles with a long history of operation in Malaysia.
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