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...
Singapore’s economy expanded 2.9% year-on-year in the third quarter, slower than the revised 4.5% growth recorded in the previous quarter, but still ahead of economists’ expectations of 1.9%, according to advance estimates from the Ministry of Trade and Industry (MTI).
Manufacturing Stalls Amid Tariff Pressures
Growth was dampened by weak manufacturing activity, which was unchanged from a year earlier after rising 5.0% in the second quarter. The slowdown reflects the ongoing impact of U.S. tariffs on Singapore’s exports and ripple effects across regional supply chains.
Non-oil domestic exports fell for a second consecutive month in August, as earlier front-loading of shipments ahead of tariff hikes faded. Although the 10% U.S. tariff on Singapore’s goods is among the lowest in Asia, the city-state’s export-driven economy remains highly exposed to external headwinds, especially in pharmaceuticals and electronics.
Domestic Demand Cushions Slowdown
On a quarter-on-quarter seasonally adjusted basis, GDP rose 1.3%, outpacing forecasts of 0.3%. This suggests that domestic demand and services activity helped offset external weakness.
Outlook
Economists expect Singapore’s full-year growth to moderate as global trade frictions persist, though resilient consumer spending and government initiatives to boost innovation and infrastructure could provide partial support.
The MTI is expected to release detailed GDP data and its 2026 growth forecast in November.
Comments
Post a Comment