Singapore is exploring plans to expand its gold storage capacity as it seeks to position itself as a major global bullion trading hub , targeting central bank reserves and institutional flows. Strategic Push Into Bullion Market Authorities are evaluating potential sites — including areas near Changi Airport — to enhance vaulting infrastructure for gold storage , according to sources familiar with the discussions. The Monetary Authority of Singapore confirmed it is considering the use of existing facilities for gold vaulting , though it stopped short of confirming expansion plans. The move aligns with Singapore’s broader ambition to strengthen its role in precious metals trading and financial services . Targeting Central Banks and Institutional Demand A key objective is to attract central banks , which collectively hold around 39,000 tonnes of gold , accounting for roughly 18% of global supply , according to the World Gold...
KUALA LUMPUR (July 4): The FBM KLCI bucked the downtrend seen in regional stock markets to finish the day 8.08 points or 0.48% higher at 1,688.45.
Hong Leong Investment Bank Bhd head of retail research Loui Low said the market was reacting to some of the heavy selldown that was seen earlier as investors took profit.
Low said he expects the positive trend to continue until the end of this week.
On concerns over the new trade tariffs that the US will impose on Chinese goods on July 6, he said the market has already priced in the negative impact of the tariffs.
Low noted that there is a divergence in the Malaysian stock market as compared to the regional downtrend.
The most active counter on Bursa Malaysia was Nova MSC Bhd while the top gainer was Heineken Malaysia Bhd. Malaysian Pacific Industries Bhd was the leading decliner.
Reuters reported that most Southeast Asian stock markets fell today, tracking Asian peers on caution ahead of the Friday's deadline for further US tariffs on China, with the Philippine market snapping a three-session gaining streak on profit-taking.
Japan's Nikkei 225 was down by 0.31% or 68.50 points to 21,717.04 while China's Shanghai Stock Exchange Composite fell 1% or 27.76 points to 2,759.13. South Korea's Kospi was also down 0.32% or 7.30 points to 2,265.46.
Source: The Edge
Comments
Post a Comment