Singapore is exploring plans to expand its gold storage capacity as it seeks to position itself as a major global bullion trading hub , targeting central bank reserves and institutional flows. Strategic Push Into Bullion Market Authorities are evaluating potential sites — including areas near Changi Airport — to enhance vaulting infrastructure for gold storage , according to sources familiar with the discussions. The Monetary Authority of Singapore confirmed it is considering the use of existing facilities for gold vaulting , though it stopped short of confirming expansion plans. The move aligns with Singapore’s broader ambition to strengthen its role in precious metals trading and financial services . Targeting Central Banks and Institutional Demand A key objective is to attract central banks , which collectively hold around 39,000 tonnes of gold , accounting for roughly 18% of global supply , according to the World Gold...
The feel good factor continues in the market as FBM KLCI breached the 1,700 mark.
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| FBM KLCI breached the 1,700 mark |
The positive sentiment was felt across the Asia region.
In Malaysia, the FBM KLCI was up 3.77 points or 0.22% to 1,700.31.
In the Asia region, Japan's Nikkei 225 ended the day up 1.74%, while Hong Kong's Hang Seng rose 1.17% and South Korea's Kospi inched up 0.04%.
Reuters reported that Asian shares began a central bank-focused week on firm footing today, buoyed by gains on Wall Street, as well as glimmers of strength in weekend data from China.
Across Bursa, there were 419 advancers versus 412 losers, while 360 counters closed unchanged.
A total of 1.47 billion shares, valued RM1.61 billion, exchanged hands during the day.
Nestle (Malaysia) Bhd rose RM1.54 or 2.08% to close at RM75.50; while the top loser was Petronas Dagangan Bhd, which fell 40 sen to RM24.10.
The most actively-traded stock was Gamuda Bhd's warrant (Gamuda-WE), which fell two sen or 2.07% to close at 94.5 sen.
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