Asian Shares Declined On President Donald Trump’s Order To Carry Out His Controversial Campaign Pledges.
Asian shares declined during the course of the session on Tuesday as the order by President Donald Trump on traveling to the United States has sent investors to consider that he is indeed serious about carrying out the controversial campaign pledges.
Global stocks were under pressure after posting their biggest drop in six weeks on Monday after Trump signed an executive order to bar Syrian refugees indefinitely and suspend travel to the United States from seven Muslim-majority countries, which led to an extensive protest.
After posting big losses on Monday, economists are expecting the European bourse to undermine, with spread-betters anticipating losses to reach over 0.1 percent in major indexes, including FTSE, DAX, and CAC.
"Investors are becoming worried as it appears as if he was setting fire to geopolitical risks that already exist," said market strategist Yoshinori Shigemi.
With Trump’s move, some U.S. policymakers, and business leaders, which runs technology companies were disappointed and are planning to discuss a legal challenge as they have been depending on talent across the world.
"His stance is really inward-looking, making investors nervous about his 'moderateness'," said senior strategist Masahiro Ichikawa.
MSCI’s broadest index of Asia-Pacific shares outside Japan declined by about 0.5 percent, while Japan’s Nikkei lost 1.7 percent, marking its biggest drop in over three months.
Bursa Malaysia Bruised by Trump’s Actions
Ahead of the bruised Asian markets and Bursa Malaysia on Tuesday by US President Donald Trump’s move, the FTSE Malaysia KLCI declined 9.65 points or 0.57% to settle at 1,676.71.
Subsequently, the turnover was 606.65 million with a total value of RM544.03mil. The market remained fragile as declining shares beat gainers by 346 to 24, while 275 counters were unchanged.
Crude Palm Oil for third month delivery dipped RM50 to RM3, 020 per tonne, following declines in Soybean Oil and crude oil. IOI Corporation Bhd (KL:IOIB) remained steady at RM4.50 but Kuala Lumpur Kepong Bhd (KL:KLKK) and PBB Group added six sen each to RM24.10 and RM16.12.
Conclusion
Given President Donald Trump’s move, many investors and business leaders would be disappointed as their business relies on talent throughout the world.