KUALA LUMPUR, Feb 10 (Bernama) -- Gains in Axiata, Tenaga Nasional, and Maybank helped Bursa Malaysia’s main index pare earlier losses, ending marginally lower amid the ongoing concerns about US inflation and President Donald Trump’s reciprocal tariff threat. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.96 of-a-point to 1,589.95 compared with last Friday’s close of 1,590.91. The benchmark index opened 3.26 points lower at 1,587.65 and moved between 1,584.20 and 1,590.49 during the session. The broader market remained negative, with losers outpacing gainers 589 to 366, while 503 counters were unchanged, 872 untraded and 22 suspended. Turnover improved to 3.0 billion units worth RM1.85 billion from 2.93 billion units valued at RM2.22 billion on Friday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said investors have shifted their attention to smaller-cap stocks, partic...
Market Snapshot
- Singapore shares opened higher Friday with the FTSE Straits Times Index (STI) up 0.35% to 3,752.14 at 9:02 am.
- Trading saw 67 advancers and 25 decliners, with 41.66M securities valued at S$41.39M exchanged.
Key Headlines
- 2024 Growth Upgraded: Singapore's 2024 economic growth forecast increased to 3.5%, reflecting strong Q3 performance. 2025 growth set at 1-3%.
- Export Forecasts Adjusted: Non-oil domestic exports (NODX) for 2024 revised downward, with modest growth of 1% expected due to sluggish recovery in pharmaceuticals and shipbuilding.
Stocks to Watch
Thai Beverage (Y92.SG)
- Profit Dip: ThaiBev reported a 1% drop in net profit for the fiscal year, ending at 27.2 billion baht (S$1.1 billion) due to rising living costs affecting domestic sales.
- Stock Performance: Shares declined 1% to S$0.515 on Thursday.
BRC Asia (BEC.SG)
- Profit Boost Despite Revenue Drop: Net profit rose 11% to S$55 million, while revenue fell 21% to S$723.1 million, driven by lower steel prices and reduced international demand.
- Stock Movement: Shares closed 0.8% higher at S$2.39 on Thursday.
TSH Resources (TSH.SG)
- Profit Growth Amid Revenue Decline: Third-quarter net profit increased 12% to RM33.1 million (S$10 million), with a 22% revenue drop to RM231.9 million, largely due to weaker palm product earnings.
- Stock Reaction: Shares gained 2.9%, closing at S$0.355.
Lum Chang (L19.SG)
- Catalist Listing for Subsidiary: Plans to list Lum Chang Interior (LCI) aim to boost its market visibility and growth.
- Stock Status: Shares remained unchanged at S$0.305 on Thursday.
Insights
- Economic Growth: Revised forecasts highlight Singapore's robust performance but also acknowledge challenges in specific export-driven sectors.
- Corporate Moves: Companies like Lum Chang and ThaiBev are focusing on strategic adaptations to maintain growth in challenging conditions.
Keep an eye on the evolving market dynamics and corporate announcements for more opportunities.
Comments
Post a Comment