Overnight, the Dow Jones Industrial Average fell 0.84% to 37,645.59. The S&P 500 lost 1.57% to 4,982.77, while the Nasdaq Composite dropped 2.51% to 15,267.91.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 17 points, or 1.18%, to 1,426.56, from Tuesday’s close of 1,443.56. The benchmark index opened 6.55 points lower at 1,437.01.
Market breadth was negative, with decliners leading gainers 400 to 65. A total of 182 counters were unchanged, 1,705 untraded, and 10 suspended.
Turnover stood at 193.75 million shares, valued at RM115.43 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street ended lower after President Donald Trump imposed a 104% cumulative tariff on China, effective today.
“All three major Wall Street indices opened strongly but closed sharply lower from their respective day highs,” he added.
Domestically, Thong noted that a lack of buying interest, as investors adopt a cautious stance, is weighing on market sentiment due to growing uncertainties surrounding the global outlook.
“We believe the index may remain in consolidation mode, with a range of 1,440-1,455 expected today,” he said.
Among the heavyweights, Maybank dropped eight sen to RM9.80, Public Bank lost four sen to RM4.18, Tenaga Nasional (TNB) fell 24 sen to RM12.98, while CIMB and IHH Healthcare both slid nine sen to RM6.59 and RM6.64, respectively.
Among the actives, ACE market newcomer SumiSaujana lost 6.5 sen to 17.5 sen, Ta Win and Jiankun each shed half a sen to two sen and 3.5 sen, respectively. Top Glove slipped one sen to 81 sen, while Supermax and Luster were flat at 77.5 sen and five sen, respectively.
On the index board, the FBM Emas Index declined 129.68 points to 10,521.07, the FBMT 100 Index fell 138.18 points to 10,314.83, and the FBM Emas Shariah Index decreased 139.49 points to 10,214.42.
The FBM 70 Index weakened 255.97 points to 14,528.59, and the FBM ACE Index lost 60.32 points to 4,253.58.
Sector-wise, the Financial Services Index fell 161.92 points to 17,433.37, the Industrial Products and Services Index dropped 1.62 points to 135.43, the Energy Index declined 12.34 points to 632.10, and the Plantation Index eased 58.44 points to 6,915.43.