KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Market Snapshot
STI: 4,241.61 (-0.35%)
Volume / Value: 78.17M / S$90.33M
Advancers / Decliners: 58 / 84
Singapore equities opened softer on Tuesday, tracking Wall Street losses overnight as investors brace for Nvidia’s earnings midweek and watch inflation data to gauge the Federal Reserve’s next policy move.
Global Highlights
Wall Street Slips Ahead of Nvidia Earnings
Dow Jones: -0.8% to 45,282.47
S&P 500: -0.4% to 6,439.32
Nasdaq: -0.2% to 21,449.29
US stocks eased after Friday’s Fed-fuelled rally, with investors cautious ahead of Nvidia’s Q2 earnings on Wednesday and the Fed’s preferred PCE inflation data on Friday. Powell’s dovish Jackson Hole remarks lifted September rate-cut odds to 86% (CME FedWatch), but sticky inflation could derail expectations.
Trump Removes Fed Governor Cook
In a move rattling markets, President Donald Trump dismissed Fed Governor Lisa Cook, citing alleged mortgage fraud. The unprecedented dismissal raises questions over the Fed’s independence, as Cook’s term was set to run until 2038. Analysts warn the action could reshape Fed dynamics and increase political risk premiums in US assets.
Singapore Macro
Core Inflation Misses Forecasts
Core CPI (July): +0.5% YoY (vs est. 0.6%)
Headline CPI (July): +0.6% YoY, -0.4% MoM
The Monetary Authority of Singapore (MAS) and MTI left their 2025 inflation forecast at 0.5–1.5%, citing risks from global demand weakness and geopolitics. Food inflation (+1.1%) edged higher, while accommodation and services costs eased. Economists broadly expect MAS to hold policy in October, though softer data keeps the door open to further easing.
Stocks to Watch
Frasers Cpt Tr (J69U.SG) – Subsidiary Lion (Singapore) agreed to acquire 10 strata lots in Yishun 10 for S$34.5m, completing full ownership of the retail complex after its prior S$48m Golden Village cinema purchase.
Thomson Medical (A50.SG) +26.5% – Unveiled a RM18b Johor Bay mega-project spanning 10.5 hectares, featuring a hospital, aged-care facilities, residences, a hotel, and commercial precincts. Seen as a play on medical tourism and regional healthcare demand.
MarcoPolo Marine (5LY.SG) -1.5% – Indirect unit PKR Offshore to seek a Taiwan Stock Exchange listing by late 2026. Proceeds will fund expansion of offshore wind vessels, including service operation ships for crew and equipment support.
Key Takeaway:
Singapore inflation undershot expectations, reinforcing a benign price outlook and easing pressure on MAS. Markets remain laser-focused on Nvidia’s earnings and US inflation data, while Trump’s surprise Fed move injects fresh policy risk into global markets.
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