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 2): The FBM KLCI gained 6.95 points or 0.41% to close at 1,713.87 after Asian shares ended higher and as Malaysia unveiled its Budget 2019.
Asian equities rose on news the US is taking steps to resolve a damaging trade war with China.
Reuters reported that Asian shares rocketed to three-week highs on Friday while the dollar softened on a report that US President Donald Trump is taking steps to resolve a damaging trade war with China that has cast a pall over the global economy and financial markets recently.
It was reported that MSCI's broadest index of Asia-Pacific shares outside Japan jumped 2.7 percent to hit its highest level since Oct 10. It is up 6.4 percent on the week, on course to mark its best weekly performance in three years.
Among Asian stock indices today, Japan’s Nikkei 225 gained 2.56%, Hong Kong’s Hang Seng gained 4.21% while South Korea’s Kospi rose 3.53%.
In Malaysia, JF Apex Securities Bhd said the positive performance in global markets including US stocks' overnight rise, had supported gains in the Malaysian market today. “With the overnight bullish performance in the US and Europe, the KLCI is expected to resume its rebound with resistance at 1,750 points,” JF Apex said in a note earlier today.
Across Bursa Malaysia today, 3.16 billion shares were traded for RM2.53 billion. Top gainer was British American Tobacco (M) Bhd while Genting Bhd led decliners.
Genting shares closed down 20 sen at RM7.20 after Finance Minister Lim Guan Eng said during Malaysia's Budget 2019 tabling today that the country will raise the annual casino licence fee from RM120 million to RM150 million. Lim also said casino tax will be increased to 35% of gross income.
Source: The Edge
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