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 (Oct 31): The FBM KLCI rose with Asian shares today, driven by bargain hunting.
At 5pm, the KLCI rose 23.33 points or 1.38% to close at 1,709.27 points. Gainers led losers by 611 to 176, while 430 counters traded unchanged.
Top gainers included Ajinomoto (Malaysia) Bhd, Dutch Lady Milk Industries Bhd and Tenaga Nasional Bhd.
"The Malaysian stock market is oversold and I expect the market shall continue to recover some losses as bargain hunters will continue to pick up [those] at cheaper valuations," Malacca Securities head of research Victor Wan told theedgemarkets.com.
"Key level of resistance to look at is 1,720. Conversely, support levels can be identified at 1,680 and 1,700," Wan added.
Across Asia, Japan's Nikkei rose 2.16%, while Hong Kong's Hang Seng rose 1.6% and South Korea's Kospi climbed 0.74%.
Reuters reported that Asian stocks clawed up from 20-month lows on Wednesday amid pledges by China to support its markets, but investor confidence was brittle after equity markets bled trillions of dollars this month.
Factors ranging from Sino-US trade tensions to worries about global economic growth, higher US interest rates and company earnings have spurred volatility in financial markets in the past few weeks, the newswire added.
Source: The Edge
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