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 (Feb 12): Malaysian stocks closed higher today, in tandem with most Southeast Asian stock markets following a higher Friday close for US stocks after a wild week.
The FBM KLCI ended the day up 10.35 points or 0.57% at 1,830.17, after hovering between 1,834.45 and 1,824.89 today. Market breadth was negative with 484 losers compared with 453 gainers with and 480 counters unchanged.
AmInvestment Bank Research analyst Lim Sae Wai said investors are still bracing for more volatile trading days ahead for fear of another market selldown in the US market.
"At the moment, our local market is very much dependent on international market sentiment, especially the US. But even with the rebound (in US stocks) last Friday, most investors are not convinced that the market sell down is over," he told theedgemarkets.com.
"On a slightly medium-term outlook, the market is still considered going through a healthy correction after being overbought of late," Lim added.
He also said so long as the benchmark index stays over the support level of 1,795 points, there should be a general positive bias throughout the market.
Trading volume fell to 1.8 billion shares worth RM2.27 billion compared with Friday's 2.5 billion shares worth RM2.67 billion.
Top gainers were Ajinomoto (Malaysia) Bhd, United Plantations Bhd, and Petronas Gas Bhd, while top losers were Hong Leong Financial Group Bhd, Panasonic Manufacturing Malaysia Bhd, and British American Tobacco (Malaysia) Bhd.
Across Asia, Singapore's STI rose 0.23%, South Korea's KOSPI went up 0.91%, while Hong Kong's Hang Seng was down 0.16%.
Source: The Edge
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