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Singapore Morning Wrap: Export Surge Signals Strength Despite Global Market Weakness

Singapore equities opened slightly lower on Wednesday, even as  strong export data highlighted resilience in the external sector , while global markets remained cautious amid geopolitical tensions. STI Slips as Global Sentiment Weakens The  FTSE Straits Times Index  edged down  0.11% to 5,009.32  in early trade. Market breadth was mildly positive: Advancers: 68 Decliners: 53 The muted performance reflects  cautious sentiment , tracking overnight weakness in US markets. Wall Street Falls on Renewed Geopolitical Risks US equities declined for a second straight session: S&P 500   -0.63% Dow Jones Industrial Average   -0.59% Nasdaq Composite   -0.59% The pullback was driven by  rising oil prices and renewed US-Iran tensions , which weighed on broader risk sentiment. However,  AI-related stocks outperformed , signaling continued investor interest in the sector. Singapore Exports Surge on Electronics Boom Singapore’s trade data surpri...
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Market Daily Report: KLCI gains with Japan shares




KUALA LUMPUR (Jan 4): The FBM KLCI rose 11.94 points or 0.7% as Japan shares rose substantially on a weaker yen.

At Bursa Malaysia, the KLCI settled at 1,647.47 points on gains in stocks like Sime Darby Bhd and Petronas Chemicals Group Bhd. Bursa Malaysia saw 1.98 billion shares, worth RM1.65 billion traded.

Japan's Nikkei 225 rose 2.51% as a weaker yen led to expectation of higher earnings for exporters. Reuters reported Japan's Nikkei share average started 2017 trading on a strong note on Wednesday, as investors cheered upbeat global economic data released during Japan's holidays, and a weaker yen boosted exporters.

In Malaysia, Malacca Securities Sdn Bhd senior research executive Kenneth Leong told theedgemarkets.com that the KLCI's movement today was in line with key regional indices.
Leong said "there is still upside in the KLCI, premised on higher crude palm oil (CPO) and crude oil prices”.

Such CPO price sentiment followed the ringgit's depreciation today to a fresh one-year level against the U.S. dollar at 4.5002. At 5:27pm, the ringgit was traded at 4.4975 against the U.S. dollar.
A weaker ringgit makes Malaysian CPO more competitive in world markets, hence anticipation of higher demand for the commodity.


Source: The Edge
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