Singapore is exploring plans to expand its gold storage capacity as it seeks to position itself as a major global bullion trading hub , targeting central bank reserves and institutional flows. Strategic Push Into Bullion Market Authorities are evaluating potential sites — including areas near Changi Airport — to enhance vaulting infrastructure for gold storage , according to sources familiar with the discussions. The Monetary Authority of Singapore confirmed it is considering the use of existing facilities for gold vaulting , though it stopped short of confirming expansion plans. The move aligns with Singapore’s broader ambition to strengthen its role in precious metals trading and financial services . Targeting Central Banks and Institutional Demand A key objective is to attract central banks , which collectively hold around 39,000 tonnes of gold , accounting for roughly 18% of global supply , according to the World Gold...
KUALA LUMPUR (July 18): The FTSE Bursa Malaysia KLCI (FBM KLCI) ended lower for the second consecutive day on Tuesday (July 18) on continued profit-taking amid the negative performance across the region, a dealer said.
At 5pm, the KLCI slid 3.07 points, or 0.21%, to 1,403.03 from 1,406.1 at Monday’s (July 17) close.
The key index opened 1.44 points firmer at 1,407.54 and moved between 1,399.47 and 1,407.9 throughout the day.
The
broader market stayed negative as decliners led gainers 475 to 420,
while 405 counters were unchanged, 986 untraded, and 14 others
suspended.
Turnover declined to 3.4 billion units worth RM2 billion from 3.6 billion units worth RM2.18 billion on Monday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key indices trended lower regionally as concerns over slowing economic growth in China weighed on most broader Asian markets.
"As for the local bourse, we expect bargain hunting to prevail given the attractive valuations of the benchmark index and other local stocks," he said.
He also said that the improving local economy also plays a major part in the performance of the stock market, which received strong support from local institutional funds and the resurgence of foreign funds lately.
"However, investors should remain cautious due to increasing market risks and volatility globally," he said.
Thong anticipates the KLCI to trend higher within the 1,400-1,420 range for the rest of the week, with immediate resistance at 1,415 and support at 1,380.
Among the heavyweights, Maybank Bhd, Public Bank Bhd and Tenaga Nasional Bhd declined three sen to RM8.82, RM3.96 and RM9.10, respectively, CIMB Group Holdings Bhd shed seven sen to RM5.22, while IHH Healthcare Bhd gained four sen to RM5.84.
Of the actives, UEM Sunrise Bhd, Classita Holdings Bhd and Advance Synergy Bhd added half a sen each to 39 sen, 23 sen and 17 sen respectively, Malaysian Resources Corporation Bhd improved one sen to 35 sen, and Widad Group Bhd was flat at 42 sen.
On the
index board, the FBM Emas Index gave up 16.81 points to 10,398.24 and
the FBMT 100 Index was 16.56 points lower at 10,078.64.
Meanwhile, the FBM Emas Shariah Index dropped 7.55 points to 10,694.01,
the FBM 70 Index improved by 0.31 of a point to 13,899.02, and the FBM
ACE Index edged up 30.92 points to 5,365.56.
Sector-wise, the Financial Services Index slipped 83.84 points to 15,669.76, the Energy Index eased 4.93 points to 807.56, while the Plantation Index rose 42.82 points to 6,921.64 and the Industrial Products and Services Index perked up 0.53 of a point to 162.09.
The Main Market volume fell to 2.42 billion units valued at RM1.72 billion from 2.5 billion units valued at RM1.82 billion on Monday.
Warrants turnover expanded to 350.21 million units worth RM52.13 million versus 122.25 million units worth RM13.82 million previously.
The ACE Market volume tumbled to 629.53 million shares valued at RM220.07 million compared to 952.32 million shares valued at RM342.03 million on Monday.
Consumer products and services counters accounted for 625.06 million shares traded on the Main Market, industrial products and services (483.43 million); construction (159.7 million); technology (249.87 million); SPAC (nil); financial services (95.48 million); property (507.61 million); plantation (44.85 million); REITs (5.79 million), closed/fund (63,000); energy (99.72 million); healthcare (68.3 million); telecommunications and media (30.81 million); transportation and logistics (21.16 million); and utilities (30.29 million).
Source: The Edge
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