KUALA LUMPUR, Dec 12 (Bernama) -- Bursa Malaysia’s key index closed higher today on bargain hunting, in line with positive investor sentiment across regional markets, consolidating at its highest level in more than two months — a level last seen on Oct 2, 2025. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 12.42 points, or 0.76 per cent, to 1,637.81, compared with Thursday’s close of 1,625.39. The benchmark index opened 2.83 points lower at 1,622.56, thereafter edged down to an early low of 1,622.03, before staging an uptrend to an intraday high of 1,640.36 in late trading. Market breadth was positive, with gainers trouncing decliners at 743 versus 387. Another 530 counters were unchanged, 1,108 untraded, and 16 suspended. Turnover increased to 3.09 billion units worth RM2.46 billion from 2.99 billion units worth RM2.35 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI ended higher on continued...
Morning Wrap | Singapore's Non-Oil Exports Rise 6.9% in September; Keppel to Restart Saigon Project in 2026
FTSE Singapore Straits Times Index
-0.47%
Keppel +0.11% CapitaLandInvest -0.75% Keppel REIT 0.00%
Here’s what you need to know about today’s Singapore markets:
Singapore shares opened lower on Friday
US stocks declined on trade tensions and banking concerns despite TSMC’s strong earnings
Singapore’s non-oil exports surged 6.9% in September, beating forecasts
Stocks to watch: Keppel, CapitaLandInvest, and others
Latest share buyback transactions
Market Snapshot
Singapore shares opened lower on Friday.
FTSE Straits Times Index (STI): 4,343.42 (-12.78, -0.29%)
Trading (as of 9:00 AM): Volume 26.61M | Value S$47.81M
Advancers / Decliners: 58 / 60
US
US Stocks Decline on Trade Tensions and Banking Concerns Despite TSMC’s Strong Earnings
Major US indexes closed lower on Thursday, with the Dow Jones Industrial Average down 0.65% to 45,952.24, the S&P 500 falling 0.63% to 6,629.07, and the Nasdaq declining 0.47% to 22,562.54.
The market downturn was driven by escalating US-China trade tensions—particularly over rare-earth metals—and concerns about rising bad loans among US banks. These factors overshadowed strong earnings from Taiwan Semiconductor Manufacturing Co. (TSMC).
China Criticizes US on Rare-Earth Controls, Yet Signals Openness to Cooperation
China’s new export restrictions on rare-earth materials—vital for high-tech products—have heightened tensions with Washington, which responded with threats of additional tariffs.
Chinese Commerce Ministry spokesperson He Yongqian accused the US of “distorting and exaggerating” China’s actions but added that global supply chain stability requires “joint efforts from all nations,” suggesting possible room for cooperation.
Major Financial Firms Hit by Surge in Bad Loans
Financial stocks slumped after major institutions disclosed significant loan exposures.
Jefferies Financial fell 10.62% after revealing US$715 million in loans tied to bankrupt auto-financing firm First Brands. Regional banks Zions Bancorp and Western Alliance Bancorp tumbled 13.14% and 10.81%, respectively, due to similar credit issues.
Breaking News
Singapore’s Non-Oil Exports Jump 6.9% in September, Defying Expectations
Singapore’s non-oil domestic exports rose 6.9% year-on-year in September, reversing August’s 11.5% fall and beating forecasts of a 2.1% contraction.
Growth was led by electronics shipments, particularly to China. Despite a 10% US tariff, exports to the US improved, down only 9.9% versus August’s 29.1% plunge.
Enterprise Singapore maintained its full-year export growth forecast of 1–3%, while warning of challenges in late 2025.
Singapore Logistics Property Market Steady in Q3 2025
The logistics and warehouse property sector showed steady leasing momentum, driven by third-party logistics and industrial demand.
Key completions included World Gateway 2’s second phase and Toll City’s expansion. Rental rates held steady at S$1.71 per sq ft per month for the fifth consecutive quarter.
Singapore New Home Sales Dip in September but Outlook Positive
New private home sales fell sharply to 255 units in September, down 88.1% month-on-month and 36.4% year-on-year due to fewer project launches.
However, year-to-date sales of 7,924 units already exceeded 2024’s total by 22.5%. Knight Frank projects 2025 sales to surpass 9,000 units, led by new launches and steady economic sentiment.
Stocks to Watch
Taiwan Semiconductor (TSM.US) – Reported stellar Q3 earnings, with revenue surging 41% year-on-year to US$33.1 billion, beating estimates. Gross margin reached 59.5%, well above expectations.
Keppel (BN4.SG) – Plans to restart its long-delayed Saigon Centre project in Ho Chi Minh City’s CBD in late 2026. The S$433.6 million mixed-use development has faced long delays due to land transfer issues.
CapitaLandInvest (9CI.SG) – Ascott signed new management and franchise agreements for seven properties in Vienna and Seville, expanding its European footprint.
Keppel REIT (K71U.SG) – About 115 million new units begin trading today following a S$113 million private placement to fund a 75% stake in Sydney’s Top Ryde Shopping Centre.
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