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 (Oct 27): The FBM KLCI gained 9.33 points or 0.5% on index-linked Tenaga Nasional Bhd's share price rise and as investors reacted positively to Prime Minister Datuk Seri Najib Tun Razak's Budget 2018 speech.
At 5pm, the KLCI closed at 1,746.13 points, after rising to its intraday high at 1,751.50 points. Bursa Malaysia top gainer Tenaga added 62 sen to close at RM14.96, on the state-controlled utility's latest dividend and after the company announced a new dividend policy.
Across Bursa Malaysia, 2.76 billion shares, worth RM2.66 billion were traded. There were 476 gainers versus 310 decliners.
Yesterday, Tenaga proposed a dividend of 44 sen a share for its fourth quarter ended Aug 31, 2017 (4QFY17). The quarterly dividend brings full-year dividends to 61 sen.
Tenaga also said "with effect from the financial year ended 31 August 2017, TNB (Tenaga) will adopt a new dividend policy for the company. TNB intends to distribute dividends based on 30% to 60% dividend payout ratio, based on the reported consolidated net profit attributable to shareholders after minority interest, excluding extraordinary, non-recurring items."
Today, analysts said Najib's Budget 2018 speech, which began at 3:30pm, augured well for the stock market.
“The oversold KLCI, coupled with the optimistic budget speech by PM Najib, boosted the key index to close higher,” Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com.
Source: The Edge
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