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 ...
KUALA LUMPUR (Feb 10): The FBM KLCI rose 10.44 points or 0.62% to 1698.94 today, boosted by strong overnight gains on Wall Street and China’s positive January trade figures.
The broader market was also higher with 542 gainers as against 338 losers. Total turnover was 2.69 billion shares, valued at RM2.42 billion.
Top gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd and Malaysian Pacific Industries Bhd. The leading losers included United Plantations Bhd, Petronas Gas Bhd and Far East Holdings Bhd.
“We are looking at good figures on the FBM KLCI today,” said TA Securities Holdings Bhd senior technical analyst Stephen Soo.
“Wall Street’s performance, which was triggered by (U.S. President Donald) Trump’s announcement of plans to lower taxes on American businesses, was definitely a catalyst of this uptrend,” Soo told theedgemarkets.com over the phone.
He said China’s trade data was another factor for the bullish market sentiment. According to the data, the country’s imports from the U.S. climbed 23.4% in January (the best record ever posted in a year), whereas exports — led by electronics — rose 7.9%, after 2016 shipments dipped almost 8%.
“It can be well said that the FBM KLCI’s performance today is driven by external and globally-led rallies. Investors are beginning to break out of the ‘psychological resistance’,” said Soo.
Reuters reported Asian shares reached an 18-month peak, on the back of better investor confidence, following Chinese trade data and gains on the Wall Street.
Japan’s Nikkei 225 inched up 2.49%, Hong Kong’s Hang Seng Index rose 0.21%, and South Korea’s Composite Stock Price Index dipped 0.45%.
Source: The Edge
Comments
Post a Comment