Singapore is exploring plans to expand its gold storage capacity as it seeks to position itself as a major global bullion trading hub , targeting central bank reserves and institutional flows. Strategic Push Into Bullion Market Authorities are evaluating potential sites — including areas near Changi Airport — to enhance vaulting infrastructure for gold storage , according to sources familiar with the discussions. The Monetary Authority of Singapore confirmed it is considering the use of existing facilities for gold vaulting , though it stopped short of confirming expansion plans. The move aligns with Singapore’s broader ambition to strengthen its role in precious metals trading and financial services . Targeting Central Banks and Institutional Demand A key objective is to attract central banks , which collectively hold around 39,000 tonnes of gold , accounting for roughly 18% of global supply , according to the World Gold...
Market Daily Report: Bursa Malaysia Ends Lower On Caution Over Rising Oil Prices, West Asia Tensions
KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65.
The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38.
The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended.
Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said higher energy prices are reinforcing expectations of a more persistent inflation environment, which in turn dampens confidence in near-term monetary easing and weighs on equity valuations, particularly in interest rate-sensitive segments.
While the index fell 1.44 per cent, he noted that the pullback remains more orderly compared to the sharper decline seen on March 9, suggesting a measured risk adjustment rather than panic-driven selling.
“Notably, despite the recent volatility, foreign investors were net buyers of Malaysian equities throughout all trading days last week, indicating that underlying external interest has yet to reverse,” he said.
Regionally, Mohd Sedek said the adjustment is broadly consistent, with Japanese equities declining on concerns over higher energy costs and South Korean markets pressured by a technology-led sell-off, pointing to a wider de-risking from growth and duration-sensitive sectors as markets transition to a regime defined by elevated inflation, energy risks and tighter financial conditions.
Echoing similar views, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said broader Asian markets remained under pressure as the West Asia conflict continued to cloud sentiment.
He said while US President Donald Trump indicated that talks were ongoing and a deal could be near, the lack of concrete progress kept investors cautious.
“Looking ahead, we expect sentiment to remain cautious in the near term, with volatility likely to persist given ongoing geopolitical risks and fluctuations in crude oil prices.
“The index may continue to consolidate as investors adopt a wait-and-see approach, with key support seen around the 1,680 level. In the absence of positive catalysts, the FBM KLCI is likely to trade within the 1,680-1,720 range for the week,” he added.
Among heavyweights, Sunway Healthcare fell 28 sen to RM2.09, Maybank dropped 26 sen to RM11.20, Public Bank slid 14 sen to RM4.66, and CIMB decreased 22 sen to RM7.48. These four counters contributed 19.87 points to the index’s loss.
On the most active list, Top Glove added six sen to 63 sen, Zetrix AI added two sen to 75.5 sen, VS Industry slipped two sen to 21.5 sen, and Capital A was down 2.5 sen to 39 sen.
Among top gainers, Batu Kawan increased RM1.54 to RM21.30, Kuala Lumpur Kepong rose RM1.36 to RM21.48, Press Metal added 48 sen to RM8.09, and Petronas Chemicals gained 33 sen to RM6.13.
As for top losers, Fraser & Neave slid 76 sen to RM30.00, Malaysian Pacific Industries fell 68 sen to RM28.32, Hong Leong Financial decreased 50 sen to RM18.90, and Hong Leong Bank erased 40 sen to RM21.90.
On the index board, the FBM Top 100 Index shrank 184.32 points to 12,153.18, the FBM Emas Index dropped 186.52 points to 12,278.73, the FBM 70 Index sank 281.54 points to 16,817.24, the FBM Emas Shariah Index slid 119.94 points to 12,152.25, while the FBM ACE Index lost 82.66 points to 4,244.79.
By sector, the Financial Services Index tumbled 478.39 points to 19,849.11, the Industrial Products and Services Index perked up 2.28 points to 185.17, the Energy Index firmed 9.75 points to 808.04, and the Plantation Index surged 311.57 points to 9,016.54.
The Main Market volume improved to 2.54 billion units valued at RM4.59 billion from Friday’s 1.89 billion units valued at RM3.05 billion.
Warrants turnover swelled to 1.13 billion units worth RM148.35 million from 818.64 million units worth RM109.49 million previously.
The ACE Market volume rose to 301.21 million units valued at RM109.89 million from 255.80 million units valued at RM88.32 million last Friday.
Consumer products and services counters accounted for 314.46 million shares traded on the Main Market, industrial products and services (396.44 million), construction (257.77 million), technology (253.04 million), financial services (147.55 million), property (167.58 million), plantation (134.32 million), real estate investment trusts (32.54 million), closed-end fund (19,400), energy (258.01 million), healthcare (414.69 million), telecommunications and media (37.96 million), transportation and logistics (57.25 million), utilities (71.36 million), and business trusts (160,300).
Source: Bernama
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