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 (Sept 30): The FBM KLCI closed down 0.23 point or 0.01% today at 1,583.91, while Bursa Malaysia's ACE Market index fell by a significantly larger quantum, as speculation on the US' intention to delist Chinese firms from US stock exchanges led to escalating US-China trade war concerns.
At 5pm, the KLCI closed flat after falling to its intraday low at 1,578.53. The ACE Market index ended down 57.71 points or 1.27% at 4,495.12. Across Bursa Malaysia, 1.86 billion shares worth RM1.5 billion were traded.
Notable gainers included Maxis Bhd, Gamuda Bhd and Cahya Mata Sarawak Bhd, while decliners included PRG Holdings Bhd, Top Glove Corp Bhd and Petronas Gas Bhd.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that domestic trading sentiment was in line with Asian markets, which was weighed down by news saying China companies may be delisted from US stock exchanges.
“KLCI pared some losses at 4pm today, likely due to bargain-hunting activities, but it was not strong enough to reverse intraday losses," Leong said.
Globally, Reuters reported most Southeast Asian stock markets opened lower on Monday, as fears mounted of an escalation in Sino-U.S. trade tensions, after news Washington is considering de-listing Chinese companies from U.S. stock exchanges.
The U.S. administration is considering delisting Chinese companies to limit U.S. investment in Chinese companies, Reuters reported on Friday (Sept 27), quoting sources briefed on the matter.
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