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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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Singapore's Wage Growth: Navigating the Slowdown with Strategic Opportunities

Wage Growth Slows, But Stability Remains

In 2023, Singapore's wage growth slowed down to 5.2% from 6.5% in 2022, according to the Ministry of Manpower (MOM). While people are still getting raises, they aren't as substantial as in previous years.


Job Market Insights

Singapore's job market remains robust, although growth is decelerating. The report indicates there are about two jobs available for every job seeker. Unemployment rates are low, ranging from 1.8% to 3.5%, signaling that most people seeking employment can find jobs.

Wage Increases Across Industries

Wages increased across all industries in 2023, albeit modestly. Administrative and support services saw slightly higher increases due to new wage regulations. Across the board, employees from junior management to office workers experienced wage growth, though top executives saw smaller raises.

Corporate Earnings and Caution

Despite 82% of businesses turning a profit in 2023, earnings were lower than the previous year. This has led companies to be more conservative with wage increases, with fewer businesses raising salaries and some even reducing pay.

Future Outlook

Looking ahead, MOM anticipates wage growth to maintain its current pace in 2024. With inflation expected to slow, the real value of wages may improve. Efforts are also being made to ensure lower-paid workers receive higher wages, aiming for more equitable income distribution.

What This Means for You

For job seekers and workers, this means job opportunities are still plentiful, but significant raises may be harder to achieve unless you are in high-demand fields like tech or healthcare. It's a strategic time to consider upskilling to enter these growing industries.

For the broader audience, understanding the wage growth slowdown helps explain why making ends meet might feel challenging despite nominal wage increases, especially when daily expenses rise faster than incomes.

Key Takeaways

Singapore's job market remains stable, but the era of substantial wage increases is cooling. MOM's initiatives aim to ensure fair compensation, particularly for lower-wage workers. To maximize your opportunities, focus on fields with high demand and growth potential. The landscape is shifting, and being strategic about career choices can help you navigate this period effectively.

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