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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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SG Morning Highlights: Key Market Updates

 Market Snapshot

  • Singapore Shares: Opened higher on Monday, with the Straits Times Index (STI) up 0.01% to 3,745.24 as of 9:11 a.m.
  • Market Activity: 98 gainers, 66 decliners, with 68.25M securities worth S$96.23M changing hands.

Takeaways:

  • SIA and ST Engineering show strong growth, reflecting recovery in travel and robust business performance.
  • Property developers are set for a standout November, with key launches driving sales.
  • Singapore’s tech advancements come with heightened cybersecurity risks, necessitating proactive measures to safeguard critical systems.
  • Investors should watch for continued updates on major project launches and cybersecurity strategies shaping Singapore's economic and technological landscape.

Breaking News

Developer Sales Surge Predicted for November 2024

  • Major Launches Driving Sales:
    • November sales expected to reach up to 2,100 units, the highest since March 2013.
    • Total 2024 sales projected at 5,500-6,000 units, with prices potentially rising 3%.
    • Top Performers:
      • Chuan Park: 696 units sold.
      • Emerald of Katong: Over 3,600 cheques collected, reflecting high demand.
      • Other strong performers include The Collective at One Sophia and Union Square Residences.

Cybersecurity Risks Escalate Amid Singapore’s Tech Growth

  • Key Risks:
    • Increased cyber threats to critical infrastructure such as transportation, water systems, and emergency alerts.
    • Proliferation of IoT devices heightens risks of data breaches and identity theft.
  • Response Required: A comprehensive cybersecurity strategy to counter threats and maintain public trust in smart city systems.

Stocks to Watch

1. Singapore Airlines (SIA.SG)

  • October 2024 Performance:
    • Passenger traffic increased 7.4% YoY to 12.9 billion revenue passenger-kilometres.
    • Reflects continued recovery in air travel demand.
  • Market Reaction: Shares rose 1.1%, closing at S$6.33 on Friday.

2. ST Engineering (S63.SG)

  • Q3 2024 Financials:
    • Revenue up 14% to S$2.8 billion.
    • Steady interim dividend of S$0.04 per share.
  • Market Reaction: Shares increased 0.2%, closing at S$4.71.

3. Frasers Property Limited (TQ5.SG)

  • Development Update:
    • Entered a 51:49 joint venture with Japan’s Sekisui House for the redevelopment of Robertson Walk into a mixed-use project with 348 residential units.
    • Operations to cease on May 31, 2025, ahead of redevelopment.
  • Market Reaction: Shares remained unchanged at S$0.92.

4. Keppel Infrastructure Trust (A7RU.SG)

  • Acquisition Proposal:
    • Plans to acquire 50% interest in Marina East Water desalination plant.
    • Expected to boost DPU by 0.4% for FY2023.
  • Market Reaction: Shares declined 2.2%, closing at S$0.44.

5. Dyna-Mac (NO4.SG)

  • Acquisition Clearance:
    • Hanwha Ocean SG Holdings received approval for its voluntary conditional cash offer.
    • Despite the corporate development, shares remained unchanged at S$0.665.

6. CSE Global (544.SG)

  • Q3 2024 Performance:
    • Revenue rose 15.4% to S$213.9 million, despite a 0.7% decline in orderbook to S$633.6 million.
  • Market Reaction: Shares unchanged, closing at S$0.435.


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