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 ...
After the index's advance in the last few days, we see the FBM KLCI fell 1.33 points or 0.1% as investors locked in gains.
The FBM KLCI index lost 1.33 points or 0.08% on Thursday. The Finance Index increased 0.05% to 14138.02 points, the Properties Index up 0.06% to 1193.05 points and the Plantation Index down 0.09% to 7513.83 points. The market traded within a range of 14.12 points between an intra-day high of 1688.79 and a low of 1674.67 during the session.
Malaysian shares rose in recent days on news 1Malaysia Development Bhd (1MDB) was selling its power assets to China General Nuclear Power Corp, instead of Tenaga Nasional Bhd ( Valuation: 1.20, Fundamental: 1.30).
Investors could have perceived such updates as good news for Tenaga, amid concerns Tenaga might overpay for state-owned 1MDB's power assets to bailout the company.
However, as the news passed, the market sensed a lack of catalysts exciting the share market.
Exports based companies are closely watched as as these firms are seen as beneficiaries of a weaker ringgit against the US dollar.
At 5pm, the ringgit weakened to 4.2218 against the US dollar.
Bursa Malaysia ended the day with 2.33 billion shares, valued at RM1.97 billion transacted.
Top gainers included Ajinomoto (M) Bhd and Chee Wah Corp Bhd.
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| Ajinomoto (M) Bhd lead the top gainer for the day |
Top losers were Nestle (M) Bhd and Malaysian Pacific Industries Bhd.
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| Nestle (M) Bhd lost RM1.48 as of closing |
The top active counter was Borneo Oil Bhd.
Across the region, Japan’s Nikkei 225 was up 0.49%, while South Korea’s Kospi rose 1.06%
Reuters reported Asian shares advanced on Thursday, while the euro remained under pressure on growing bets the European Central Bank will roll out more stimulus soon, even as the U.S. Federal Reserve looks set to raise interest rates.
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