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 16): The FBM KLCI closed 4.88 points or 0.3% lower amid bearish technical signals, acccording to analysts. At 5pm, the KLCI closed at 1,718.11 points.
AmInvestment Bank Bhd analyst Lim Sae Wai told theedgemarkets.com that the KLCI had been showing bearish technical indicators since the middle of October this year.
"My technical analysis has been showing a bearish signal in the FBM KLCI since the middle of October. So in the immediate term, we might see a potential technical rebound in the market. However, I am of the opinion that it may not last long," Lim said.
Today, TA Securities Holdings Bhd wrote in a note: "The weaker tone on global markets and negative technical momentum should increase cautious sentiment and discourage investors to the sidelines."
Across Bursa Malaysia, decliners led gainers at 614 against 265 respectively. A total of 2.44 billion shares worth RM2.48 billion exchanged hands.
Top decliners included SAM Engineering & Equipment (M) Bhd and Dutch Lady Milk Industries Bhd. Top gainer was Kossan Rubber Indstries Bhd.
Source: The Edge
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