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 (May 12): The FBM KLCI rose 0.48 point to 1,775.87 points on last minute buying in index-linked Genting Bhd besides banking stocks Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd.
The KLCI erased losses after falling on declines in Petronas Gas Bhd, Petronas Dagangan Bhd and Petronas Chemicals Group Bhd shares. The KLCI rose to its intraday high at 1,778.64 points before falling to its intraday low at 1,773.15 points.
“There was a high selling pressure in index-linked Petronas Chemicals and Genting Malaysia Bhd since the noon market break today. But clearly, the market remains buoyant and flush with liquidity as investors continue to search for hidden gems,” Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com.
At 5pm, Genting Bhd shares rose 16 sen to RM9.89, Maybank added seven sen to RM9.38 while CIMB climbed four sen to RM5.95. Genting Bhd was the seventh-largest gainer across Bursa Malaysia.
Bursa Malaysia saw 2.7 billion shares worth RM2.18 billion change hands. Decliners outpaced gainers at 516 versus 424 respectively.
Top decliner Petronas Gas fell 52 sen to RM18.60.
Source: The Edge

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