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Singapore Growth Risks Rise as Oil Shock Clouds Outlook

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 ...
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Market Daily Report: FBM KLCI drops 10.47 points, Bursa share value dips below RM1.5b as trade war hits sentiment



KUALA LUMPUR (Sept 24): The FBM KLCI dropped 10.47 points or 0.58% on profit taking in light of heightened China-US trade war concerns. At 5pm, the KLCI settled at 1,800.17 while share-trade value across Bursa Malaysia fell to RM1.499 billion.

Reuters reported that Asian shares stumbled in holiday-thinned trading on Monday as China's decision to cancel talks with the United States sparked fears of a protracted trade war, while oil rallied as Saudi Arabia ruled out increasing supplies to cool crude prices.

Investors were squarely focused on the Sino-US trade war as China added US$60 billion of US products to its import tariff list, retaliating against US duties on US$200 billion of Chinese goods that came into effect at 0401 GMT Monday. China also cancelled mid-level trade talks with the United States, as well as a proposed visit to Washington by Vice Premier Liu He which had been scheduled for this week, the Wall Street Journal reported.

In Malaysia today, Hong Leong Investment Bank Bhd analyst Loui Low Ley Yee told theedgemarkets.com: “It was a mixed market. There were selective profit-taking activities [locally].
Across Bursa Malaysia, 1.64 billion shares worth RM1.499 billion exchanged hands. Today's share-trade value was much lower than the RM3.61 billion registered on Friday.

Today's top decliners included KLCI constituent stocks such as Hong Leong Bank Bhd, Press Metal Aluminium Holdings Bhd and Tenaga Nasional Bhd.

Across Asia, Hong Kong’s Hang Seng fell 1.62% amid holiday-thinned trading today as Mainland China, Japan and South Korea markets were closed for holidays. Tomorrow (Sept 25), Hong Kong markets will be closed in conjunction with the day following the Chinese Mid-Autumn Festival.



Source: The Edge
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