Oil breaks US$100, Wall Street retreats and bond yields rise, inflation is becoming the market’s biggest risk again Global markets are starting Thursday in a more defensive position. Brent crude has broken above US$100 a barrel , U.S. Treasury yields are pushing higher, and Wall Street fell for a third straight session as investors reassess whether central banks may need to keep tightening rather than easing. For Malaysian investors, the key chain today is increasingly clear: Oil → inflation → interest rates → bond yields → USD/MYR → Bursa valuations. 30-second market snapshot Market / Asset Latest 🇺🇸 S&P 500 7,636.36, -0.48% 🇺🇸 Dow Jones 52,380.66, -0.77% 🇺🇸 Nasdaq 26,253.34, -0.64% 🇲🇾 FBM KLCI 1,714.34, virtually flat 💵 USD/MYR ~4.06 🇺🇸 U.S. 10Y Treasury ~4.84% 🇺🇸 U.S. 2Y Treasury ~4.42% 🥇 Gold ~US$4,396/oz 🛢️ Brent crude US$101.21/bbl 🛢️ WTI crude US$96.05/bbl ₿ Bitcoin ~US$79,300 🇯🇵 Nikkei ~64,760, -0.6% this morning Brent jumped about 3.4% Wednesda...
Singapore Exchange Ltd (SGX) is planning to expand its presence in Dubai, drawn by the growing number of hedge funds that have set up operations in the United Arab Emirates. The move comes as SGX clients increasingly relocate to the emirate, bolstering the case for the exchange to establish a new office, said Lee Beng Hong, head of wholesale markets and platforms at SGX, in an interview.
“Given the success we’ve had in the Middle East, it’s the right time for us to grow our presence there,” Lee said, noting that the exchange is "actively looking" at opening in Dubai.
Dubai has recently attracted a wave of fund managers, including Millennium Management, BlueCrest, and Balyasny Asset Management, drawn by the region’s government incentives, favorable timezone, and low tax regime.
SGX’s initial plan involves relocating an employee from Qatar to Dubai, with further expansion to follow. The exact number of hires is yet to be disclosed, but Lee emphasized that SGX aims to avoid setting up small offices, ensuring employees remain connected to key functions.
The expansion aligns with SGX’s success in currency trading, which has experienced record volumes for four consecutive months through August, with average daily volumes of US$111 billion (RM467.85 billion). This growth has been driven by increased interest in trading Asian currencies, particularly in response to the fallout from the Japanese yen carry trade.
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