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 (Jan 16): The FBM KLCI rose 0.12 point as Asian shares climbed to record closing highs. Such sentiment could have helped trading volume across Bursa Malaysia to top six billion shares today.
At 5pm, the KLCI closed at 1,826.03 points after falling to its intraday low at 1,818.64 points. Across Asian share markets, Japan's Nikkei 225 rose 1% while Hong Kong's Hang Seng added 1.81%.
Reuters reported that Japan's Nikkei share average rose to its highest level since late 1991 on Tuesday, as a firmer dollar supported exporter stocks and expectations for strong corporate earnings bolstered investor sentiment. Hong Kong's benchmark Hang Seng Index rose to a record closing high on Tuesday, led by index heavyweight Tencent Holdings and Hong Kong Exchanges and Clearing.
In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com "the (stock market) trend is still positive from the global growth perspective."
“Oil price has breached US$70, and the ringgit has strengthened (past) four against the US dollar, which are good signs for Malaysia,” Wong said.
Across Bursa Malaysia, 6.53 billion shares worth RM3.37 billion changed hands. Top gainers included KLCI-linked Genting Bhd.
Genting Bhd shares rose 15 sen to close at RM9.48 to become Bursa Malaysia's fifth-largest gainer.
Source: The Edge
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