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 (Nov 22): The FBM KLCI rose 0.25 point or 0.01% to close at 1,695.62 after volatile trade amid concerns on rising US interest rates besides global trade tension and economic growth.
At 5pm, the KLCI closed at 1,695.62 after rising to its intraday high at 1,701.74 and falling to its intraday low at 1,689.03.
CIMB Research analyst Nick Foo Mun Pang said CIMB expects the KLCI to see sideways movement in the near term, until there is greater clarity on the market’s direction. “The index will see a range bound move until a clear breakout either up or down takes place,” Foo wrote in a note today.
Across Bursa Malaysia today, 1.75 billion shares worth RM1.44 billion were exchanged. Top gainer was Fraser & Neave Holdings Bhd while leading decliner was Pos Malaysia Bhd.
Rising US interest rates, besides global trade tension and economic growth concerns dictated Asian share trades. Reuters reported that Asian shares seesawed in cautious trading on Thursday with China extending losses as investors worried about slowing global growth in the face of rising US interest rates and trade tensions.
It was reported that MSCI's broadest index of Asia-Pacific shares outside Japan were last up 0.2 percent, recouping earlier losses. The index has managed to hold up so far in November after three straight monthly declines, but is on track for its worst annual performance since 2011.
In the US today (Nov 22), markets will be closed for the Thanksgiving holiday. In Malaysia tomorrow (Nov 23), the Statistics Department is scheduled to announce the country's inflation numbers.
Source: The Edge
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