US-China trade war could drag FBM KLCI to 1,580 points

  • Markets
  • Wednesday, 27 Jun 2018

KUALA LUMPUR: The Kuala Lumpur Composite Index could be dragged as low as 1,580- points, should the United States impose tariffs on an additional US$200 billion worth of Chinese imports.

TA Securities Holdings Bhd Research Senior Vice-President Kaladher Govindan said the US move would encourage more fund outflow from regional markets and Bursa Malaysia could follow suit.

However, he reaffirmed that the year-end target would remain at 1,780 points based on a price earnings ratio of 15.5 times.

“Our overview is that US President Donald Trump will stop after imposing tariffs on US$50 billion worths of goods from China and would not proceed with the second tranche of tariffs on US$200 billion in Chinese imports,” he told reporters after TA Enterprise Bhd and TA Global Bhd's annual general meetings here today - Bernama
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