KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
Key Takeaways
Singapore stocks opened slightly lower amid global market volatility.
US equities fell sharply after Middle East tensions pushed oil prices higher.
Singapore continues attracting safe-haven capital, though rising LNG costs could lift inflation.
Singapore’s billionaire count increased to 55, reflecting continued wealth creation.
Investors are watching ComfortDelGro, CapitaLand Investment, TAP, and Q&M Dental.
Market Snapshot
Singapore equities started Friday on a cautious note as global markets reacted to rising geopolitical tensions.
The FTSE Straits Times Index (STI) slipped 0.06% to 4,852.63 in early trading, with 80 decliners outnumbering 42 gainers. Market activity remained moderate, with 28.89 million shares traded worth S$82.47 million.
The subdued start comes after a sharp sell-off on Wall Street overnight, as investors reacted to the escalating crisis in the Middle East and the resulting surge in oil prices.
Wall Street Recap
US equities declined broadly as the Iran-led blockade of the Strait of Hormuz triggered concerns about global energy supply.
All three major US indices closed sharply lower:
Nasdaq Composite fell 1.8% to 22,311.98
Dow Jones Industrial Average dropped 1.6% to 46,677.85, its lowest close this year
S&P 500 declined 1.5% to 6,672.62
Oil markets surged as geopolitical tensions intensified. Crude oil futures jumped 10.5% to US$96 per barrel, reflecting fears of supply disruption.
Technology stocks were also hit hard, with the Magnificent Seven group all closing lower. Tesla led the decline with a 3.1% drop, followed by Meta Platforms (-2.6%), Apple (-1.9%), and Alphabet (-1.7%).
Singapore Remains a Safe Haven
Despite global volatility, Singapore continues to attract safe-haven capital inflows, according to analysts at UOB Kay Hian.
Investors view the city-state as a stable financial hub with strong institutions and fiscal discipline. This positioning has helped Singapore remain resilient during periods of global uncertainty.
However, analysts caution that rising liquefied natural gas (LNG) prices could pose inflation risks in the medium term.
Singapore relies heavily on LNG imports for electricity generation, which account for 25% to 30% of the country's energy supply. Higher energy costs could eventually filter into electricity tariffs and consumer prices.
Wealth Growth: Singapore Billionaires Increase
Singapore's billionaire population continued to expand in Forbes’ 2026 rich list, rising to 55 individuals from 49 last year.
Leading the local ranking is ASE Technology Holding chairman Jason Chang, with an estimated fortune of S$18.18 billion.
Other prominent figures include:
Li Xiting (Mindray) – S$15.13 billion
The Ng brothers (Far East Organization) – approximately S$9 billion each
The increase highlights Singapore’s continued role as a regional wealth and business hub.
Stocks to Watch
ComfortDelGro
The transport operator plans to invest S$200 million over 30 years to modernise driver training facilities. A new centre in Choa Chu Kang will replace the Bukit Batok Driving Centre by 2030.
CapitaLand Investment
The company launched Gourmet Xchange, a 272-unit strata food facility in Kallang that integrates a new building with an adapted heritage structure. The project represents Singapore’s first industrial land sale incorporating adaptive reuse.
TAP Holdings
TAP has formed a 60/40 joint venture with S11 Granuity Management to operate an 886-bed migrant worker dormitory in Seletar. The development will operate under the firm’s new “Habitat” living sector brand.
Q&M Dental
The healthcare group agreed to acquire an Australian dental chain for A$144.5 million, marking its third acquisition alongside deals in Singapore and Thailand.
Investor Takeaways
Geopolitical tensions and oil price spikes are driving global market volatility.
Singapore continues attracting defensive capital inflows, reinforcing its safe-haven reputation.
Energy costs remain a key inflation risk, especially due to Singapore’s reliance on LNG imports.
Corporate developments in transport, property, healthcare, and dormitory sectors may create stock-specific opportunities.
Global oil supply developments and Middle East tensions remain the key short-term market catalysts.
Comments
Post a Comment