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Singapore Growth Risks Rise as Oil Shock Clouds Outlook

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 ...
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Market Daily Report: FBM KLCI higher on bargain hunting, earnings cue



 


KUALA LUMPUR (Aug 22): The FBM KLCI closed 2.6 points or 0.1% higher on bargain hunting and as the market reacted to Malaysia's ongoing corporate financial-reporting season.

At 5pm, the KLCI settled at 1,774.22 points. Investors bargain hunted for local shares after the index fell 4.6 points to 1,771.62 points yesterday.

Today, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com : “Overall market sentiment is still mixed, but the [KLCI] likely recouped its losses from yesterday due to its reaction to the earnings season.”

Malaysia's April-June quarter corporate financial-reporting season starts in July, although most companies report their earnings in August.

Today, Bursa Malaysia saw 392 gainers compared with 364 decliners. A total of 1.77 billion shares valued at RM1.89 billion were traded.

Top gainer was KESM Industries Bhd while Mlabs Systems Bhd was the top-active counter. Pong said penny stocks' performance was a good barometer for retail investors' sentiment.

Across Asian share markets, Japan’s Nikkei 225 fell 0.05% while Hong Kong’s Hang Seng rose 0.91%. South Korea's Kospi added 0.44%.

Reuters reported that Asian shares rose on Tuesday after modest gains on Wall Street, while robust metals prices underpinned some regional markets even as investors remained wary ahead of the annual central banking conference in Jackson Hole later this week.


Source: The Edge
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