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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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Singapore Luxury Home Purchases Surge to 76% in Q3, Led by Local Buyers

Singaporeans continued to dominate the luxury property market in the third quarter, with locals accounting for  76% of all luxury home purchases , according to a new report from OrangeTee. Local Buyers Drive the Market Out of  171 luxury transactions  in Q3: 130 were purchased by Singaporeans , up from 70.2% in Q2 , and 72.5% in Q3 2024 The rise reflects: Growing  local affluence Strong interest in  high-end real estate  as long-term investments A focus on  wealth preservation Luxury Sales Value in CCR Jumps Nearly 26% Properties in the  Core Central Region (CCR)  priced above  $5 million  saw a strong surge: Total sales value rose  25.7%  to  $1.73 billion  in Q3 (up from  $1.37 billion  in Q2) Average price per unit increased to  $10.09 million (from  $9.73 million  previously) Transactions Hit New Highs CCR luxury home sales (excluding bulk deals): 171 units  sold in Q3 Up from...
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Singapore Moves to Cool Property Market With Tougher Stamp Duties

Singapore is turning up the heat on short-term property speculation. In a coordinated move on Thursday night, the  Ministry of National Development ,  Ministry of Finance , and the  Monetary Authority of Singapore (MAS)  announced new  cooling measures  for the private residential property market — extending the  seller’s stamp duty (SSD)  period and hiking rates significantly. Effective  July 4 , anyone selling a private residential property  within four years  of purchase will face  higher SSD rates , with the steepest penalty —  16%  — now applying to properties sold within the  first year , up from 12% previously. Updated Seller’s Stamp Duty Rates (Effective July 4) Holding Period Previous SSD New SSD Up to 1 year 12% 16% >1 year – up to 2 years 8% 12% >2 years – up to 3 years 4% 8% >3 years – up to 4 years 0% 4% Beyond 4 years 0% 0% The government cited a “ sharp rise ” in  short-term flipping ...
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