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 (April 10): Malaysian stocks ended marginally lower today, in tandem with the slide in most Asian stock markets on geopolitical tensions from the US to the Middle East and the Korean peninsula.
The FBM KLCI slipped 0.13% or 2.20 points to close at 1,739.52 points as attention shifted towards the small and mid-cap players, while the broader FBM Emas index edged 0.02% higher and the FBM ACE index gained 0.83%.
Trading volume decreased to 3.66 billion shares worth RM2.1 billion compared with Friday’s 5.22 billion shares worth RM3.39 billion. There were 430 gainer with 468 decliners, while 381 counters were unchanged.
Penny counters dominate with top active counters with Key Alliance Group Bhd the most heavily traded, while HCK Capital Group Bhd was the top gainer. Leading the decliners was Tasek Corp Bhd and Kuala Lumpur Kepong Bhd.
According to Etiqa Insurance & Takaful head of research Chris Eng, the momentum was shifted to the small cap and consumer sectors.
“If you look at the benchmark index, the decline was in line with the region. While the region was down slightly on Friday, the KLCI maintained an upside," he told theedgemarkets.com.
"Generally, there has been some cautious tone as the market was slightly bespoke by US' missile attacks on Syria, but the downside has been limited with the positive development of US-China relationship following US President Donald Trump's and China's president Xi Jinping’s meet-up,” Eng said.
Across the region, Japan’s Nikkei 225 gained 0.71%, while Hong Kong’s Hang Seng slipped by 0.02% and South Korea’s Kospi was down 0.86%.
Reuters reported that Japan’s Nikkei share was up on weak yen, bolstering exporter stocks while rising US yields helped financial stocks outperform.
Source: The Edge
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