KUALA LUMPUR, April 9 (Bernama) -- Bursa Malaysia closed lower on Thursday following the weaker performance of regional peers. The relief rally spurred by yesterday’s ceasefire quickly lost momentum as investors reassessed the credibility and sustainability of the United States-Iran truce. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 10.07 points to 1,686.24 from Wednesday’s close of 1,696.31. The benchmark index, which opened 3.66 points lower at 1,692.65, moved between 1,680.01 and 1,692.65 during the day. In the broader market, losers trounced gainers 651 to 430, while 540 counters were unchanged, 1,087 untraded and 12 suspended. Turnover eased to 3.05 billion units worth RM2.83 billion from Wednesday’s 3.77 billion units worth RM3.64 billion.
Singapore equities opened modestly higher on Thursday, following a strong rally in US markets driven by hopes of a ceasefire in the Iran conflict.
STI Gains as Global Sentiment Improves
The FTSE Singapore Straits Time Index rose 0.20% to 5,005.82, supported by improved global risk sentiment.
- Advancers vs decliners: 83 / 89
- Trading volume: 99.7 million shares (S$185 million)
The cautious gain reflects measured optimism, as investors balance improving sentiment with lingering geopolitical risks.
Wall Street Rallies on Ceasefire Hopes
US equities delivered a strong rebound overnight:
- Dow Jones Industrial Average +1,325 points (+2.9%)
- Nasdaq Composite Index +2.8%
- S&P 500 Index +2.5%
The rally was driven by declining oil prices and easing recession fears, alongside reports of potential sanctions relief discussions with Iran.
Tech and Cyclicals Lead Gains
- Intel (INTC.US) +10%
- Meta Platforms (META.US) +6.5%
- Micron Technology (MU.US) +7.7%
- Taiwan Semiconductor (TSM.US) +6%
Cyclical names also rallied:
- Caterpillar (CAT.US) +6.5%
- Goldman Sachs (GS.US) +4.8%
Singapore Macro: Inflation Outlook Adjusted
Singapore has raised its inflation forecast to 2%, up from 1%, reflecting ongoing energy price pressures linked to the Middle East conflict.
The government is rolling out support measures:
- Nearly S$1 billion to offset energy costs
- CDC vouchers (S$500) to households
- Enhanced cost-of-living payments (S$400–S$600)
- Increased corporate tax rebate to 50%
This highlights efforts to cushion both households and businesses amid rising costs.
OCBC Expands SME Financing Ambitions
OCBC Bank (O39.SG)
OCBC plans to expand its sustainable financing for SMEs to S$25 billion by 2028, up from nearly S$13 billion.
The initiative aims to support 12,000 SMEs across Singapore, Malaysia, Hong Kong, and Indonesia, focusing on:
- Social loans
- Women entrepreneur programs
- Regional SME growth
Stocks to Watch
Seatrium Ltd (5E2.SG)
Launched a S$3 billion multicurrency debt programme to fund refinancing, investments, and working capital.
SIA Engineering (S59.SG)
Appointed a new deputy chairman and independent director, strengthening governance and leadership.
Investor Takeaways
- Singapore stocks are stabilising, supported by strong gains in global markets.
- Wall Street surged, led by tech and cyclical stocks on ceasefire optimism.
- Singapore’s inflation outlook has risen, prompting additional fiscal support measures.
- OCBC’s expansion in SME financing signals long-term growth opportunities in sustainable finance.
- Market sentiment remains highly sensitive to geopolitical developments, particularly energy prices and policy signals.
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