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Market Daily Report: Bursa Malaysia Ends Lower as Investors Eye US Data, BOJ Decision

KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week.   At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day.  The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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SG Highlights: ThaiBev Faces Slight Profit Dip Amid Challenges, Market Updates


 

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.

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