Singapore markets opened marginally higher, but underlying sentiment remains cautious as Middle East tensions threaten economic growth and inflation stability . Market Holds Steady Despite Rising Risks The FTSE Singapore Straits Times Index edged up 0.05% to 4,899.83 , reflecting a balanced market tone : Advancers: 57 | Decliners: 47 Trading activity remained relatively muted This suggests investors are waiting for clearer macro signals amid global uncertainty. Global Headwinds: Oil and Tech Weigh on US Markets On Wall Street, markets were mixed: Nasdaq Composite Index fell 0.7% S&P 500 Index declined 0.4% Dow Jones Industrial Average rose 0.1% Losses in technology stocks and rising oil prices offset relatively dovish comments from Jerome Powell , who signalled no immediate need for rate hikes. Singapore Growth Outlook Faces Downside Risks RHB flagged rising downside risks to ...
The FBM KLCI index lost 4.29 points or 0.26% on Friday to close at 1,658.910. The Finance Index fell 0.20% to 14093.2 points, the Properties Index dropped 0.82% to 1203.42 points and the Plantation Index down 0.12% to 7512.82 points. The market traded within a range of 13.14 points between an intra-day high of 1664.59 and a low of 1651.45 during the session.
The FBM KLCI decline, was in line with the dip at most regional markets and as the local economy grew at its slowest pace since the second quarter of 2013.
Most of the indices on Bursa Malaysia ended the day in red, except for technology and mining, which increased 0.24 points and 8.11 points respectively.
There were 339 gainers, 558 losers and 360 counters traded unchanged across the exchange today. Market breadth saw 2.21 billion shares traded, worth some RM2.14 billion.
 |
| FBM KLCI downtrend continues |
Most of the indices on Bursa Malaysia ended the day in red, except for technology and mining, which increased 0.24 points and 8.11 points respectively.
There were 339 gainers, 558 losers and 360 counters traded unchanged across the exchange today. Market breadth saw 2.21 billion shares traded, worth some RM2.14 billion.
 |
| Top 3 Gainers |
Top gainers were led by Fraser & Neave Holdings Bhd, Panasonic Manufacturing Malaysia Berhad and Timedotcom Bhd, with F&N seeing an upside of 48 cents to close at 18.46.
 |
| Top 3 Losers |
The top 3 losers were British American Tobacco (M) Bhd, Far East Holdings Berhad and Huat Lai Resources Berhad.
 |
| Top 3 Active |
The most active counter for the day was Instaco, with 103.08 million shares done.
Kenanga Research head of research Chan Ken Yew sees a rebound next week, as the KLCI downside gap has almost been filled.
“Based on the performance today, we do not discount the possibility of a slight rebound next week, if KLCI manage[s] to hold an uptrend support line, just to fill the upside gap of 1,674.7 points to 1,680.8,” he told theedgemarkets.com today.
However, Chan warned there is still a minor downside risk, unless KLCI can overcome the 1,685-point level to gain a sustainable rebound.
Comments
Post a Comment