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 (Nov 20): The FBM KLCI slipped 3.3 points or 0.2% on weaker technical indicators and after China shares fell during intraday trades on the country 's new guidelines to regulate asset management products.
At 5pm, the KLCI closed at 1,718.36 points. China's Shanghai Stock Exchange Composite erased intraday losses to end 0.28% higher.
Reuters reported that China stocks fell sharply on Monday and were heading for their biggest daily loss in three months after Beijing set sweeping new guidelines to regulate asset management products, which analysts said will dampen investors' appetite for riskier assets.
The central bank issued the new guidelines on Friday to more strictly regulate asset management businesses, in the government's latest effort to rein in the risky shadow banking sector which had been channeling money into Chinese stocks, bonds and property.
In Malaysia, Kenanga Investment Bank Bhd analyst Muhammad Afif Zulkaplly told theedgemarkets.com that the market still lacked catalysts, prompting investors to opt for profit taking on counters like Genting Bhd.
KLCI-linked Genting closed 16 sen lower at RM9.04 to become Bursa Malaysia's eighth-largest decliner. Across Bursa Malaysia, decliners led gainers by 610 against 239 respectively. A total of 1.98 billion shares worth RM2.14 billion changed hands.
Muhammad Afif said: “Technical indicators actually worsened, even among the small-caps. We look forward for the results season in the next two weeks, and see if the positive economic growth will translate to better corporate earnings.”
Source: The Edge
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