STI Opens Flat At 4,208.53 Amid Mixed Market Sentiment
Among key active stocks, DBS traded at S$48.10, down 0.14 or 0.29%, while UOB stood at S$36.41 and OCBC at S$16.98. Other notable counters included Yangzijiang Shipbuilding at S$2.59, CapitaLand Investment at S$2.73, and ST Engineering at S$8.89.
Broader indices such as the iEdge S-REIT Leaders Index and iEdge APAC Financials Dividend Plus Index were at 1,067.46 and 3,113.00, respectively, while the iEdge Southeast Asia+ TECH Index hovered at 4,493.83.
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Malay Mail
a day ago
- Malay Mail
Bursa Malaysia trims losses, ends slightly lower amid cautious trade
KUALA LUMPUR, Aug 20 — Bursa Malaysia pared most of its earlier losses to close marginally lower as profit-taking was offset by selective buying in heavyweights, amid cautious sentiment in regional markets, a dealer said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.03 points, or 0.13 per cent, to close at 1,588.21 from Tuesday's close of 1,590.24. The benchmark index opened 2.21 points lower at 1,588.03, and moved between 1,583.40 and 1,591.04 throughout the day. The broader market was negative with decliners outpacing advancers 647 to 376, while 487 counters were unchanged, 1,084 untraded and 16 suspended. Turnover narrowed to 2.55 billion units worth RM2.50 billion from 2.60 billion units worth RM2.74 billion on Tuesday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said that the broader market sentiment today remained guarded ahead of policy signals from the US Federal Reserve's Jackson Hole Economic Policy Symposium later this week. 'Sector rotation was evident, with industrials outperforming on the back of a double-digit rally in petrochemicals, while plantations and consumer cyclicals also showed strength - underscoring resilient domestic demand amid external policy uncertainty,' he told Bernama. Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng viewed today's profit-taking as a healthy correction as it allows the market to digest the recent strong uptrend. 'The FBM KLCI is holding well above the key 1,585 support mark, which sets the stage for further gains. Barring any external shocks, we expect the benchmark index to trade within the 1,570 to 1,600 range throughout the week,' he said. Among the heavyweights, Maybank and Public Bank were flat at RM9.80 and RM4.46, respectively, Tenaga Nsaional declined 6.0 sen to RM13.66, CIMB fell 3.0 sen to RM7.36, while IHH Healthcare rose 3.0 sen to RM6.88. Of the most active counters, Vantris Energy eased half-a-sen to 3.5 sen, Sime Darby trimmed 1.0 sen to RM1.75, while Zetrix AI added 1.0 sen to 87.5 and Tanco was flat at 73 sen. Across the broader market, the FBM Emas Index decreased 29.58 points to 11,782.83, the FBMT 100 Index shed 29.35 points to 11,568.30, the FBM Emas Shariah Index gave up 32.06 points to 11,699.34, the FBM 70 Index dropped 106.51 points to 16,603.46, while the FBM ACE Index slipped 13.77 points to 4,695.92. By sector, the Financial Services Index slid 20.36 points to 18,165.14, the Plantation Index garnered 46.12 points to 7,592.60, the Industrial Products and Services Index perked up 1.61 points to 160.73, and the Energy Index eased 0.93 of-a-point to 749.29. The Main Market volume dipped to 1.46 billion units valued at RM2.28 billion from Tuesday's 1.49 billion units valued at RM2.51 billion. Warrants turnover improved to 780.41 million units worth RM93.66 million from 732.43 million units worth RM101.91 million previously. The ACE Market volume declined to 310.20 million units worth RM124.67 million from 375.68 million units worth RM134.87 million yesterday. Consumer products and services counters accounted for 247.19 million shares traded on the Main Market; industrial products and services (235.22 million), construction (146.13 million), technology (189.98 million), financial services (82.44 million), property (176.76 million), plantation (25.02 million), REITs (21.21 million), closed-end fund (3,000), energy (186.91 million), healthcare (32.64 million), telecommunications and media (47.13 million), transportation and logistics (34.33 million), utilities (38.49 million), and business trusts (11,600). — Bernama
The Sun
3 days ago
- The Sun
Singapore woman's RM800K casino win triggers cross-border challenge
LANDING a massive casino jackpot might appear to be pure fortune, but one Singapore woman discovered that claiming and transporting substantial overseas winnings can become a logistical nightmare. Twenty-eight-year-old entrepreneur Sherylynn Kok found herself facing unexpected complications in April after hitting an extraordinary RM800,000 (approximately $244,000) jackpot on a slot machine during a family vacation at Genting Highlands resort in Pahang. According to Straits Times, the frozen food supply company and social media agency owner was enjoying a weekend retreat with her boyfriend and parents when fortune struck on a Friday afternoon. Initially experiencing consecutive losses while machine-hopping, Kok eventually settled at a randomly selected slot machine. 'After switching between multiple machines, I finally chose one at random,' the businesswoman recalled about the life-changing moment. Within five minutes of playing, she activated a bonus round featuring four progressive jackpot levels: mini, minor, major, and grand - each offering increasingly valuable prizes with correspondingly lower probability odds. When she pressed the spin button, the reels aligned perfectly. Three grand prize symbols materialized across the payline, accompanied by a notification confirming her RM800,000 grand jackpot victory. Casino security personnel and staff members immediately approached Kok and her companion to verify the machine and validate the legitimate win. Following confirmation, she was directed to the cashier counter to collect her prize. The substantial payout consisted of eighty RM10,000 notes organized into eight bundles of RM100,000 each, requiring a backpack to transport the 'incredibly heavy' cash load. Given her inexperience handling such enormous amounts, Kok requested security escort services to her hotel accommodation. However, casino staff explained their protection services only extended within the gaming facility boundaries. 'They confirmed security coverage inside the casino premises, but warned they couldn't guarantee safety once we left the building,' she explained. The group implemented overnight shifts to safeguard the money-filled backpack throughout their remaining stay. Their transfer plans encountered immediate obstacles due to weekend banking closures, preventing international money remittance services. Additionally, they discovered that fund transfers required Malaysian bank account access, which none of the Singaporeans possessed. Airport departure procedures revealed another complication: exporting such significant cash amounts required prior approval from Malaysia's central banking authority. While her parents returned to Singapore as scheduled, Kok and her boyfriend remained behind to resolve the financial transfer challenges. The following day, she successfully established a Malaysian OCBC account featuring dual-currency functionality, enabling seamless conversion between ringgit and Singapore dollars. Despite her windfall, Kok maintains disciplined gambling habits, establishing strict loss limits before each gaming session. 'My gambling motivation isn't profit-driven - it's occasional weekend entertainment when I lack other activities,' she stated. Following news of her victory, friends suggested various investment opportunities and luxury purchases. However, Kok's risk-averse personality led her toward conservative financial management. 'Complex investment vehicles are beyond my understanding, so maintaining funds in traditional bank accounts feels considerably safer,' she reasoned. Her cautious approach stems from observing others' financial mismanagement after sudden wealth acquisition. She referenced a acquaintance who squandered a $1.4 million Toto jackpot through impulsive business investments and excessive spending within twelve months. Describing herself as 'low-maintenance,' Kok avoids ostentatious consumption and luxury goods attraction. Instead, she views her winnings as providing career flexibility and reduced professional pressure, rather than enabling complete retirement. 'I consciously avoid developing wealthy mindsets or assuming financial security. Two hundred thousand dollars won't sustain a lifetime,' she concluded pragmatically. ---
New Straits Times
4 days ago
- New Straits Times
Malaysia charts steady course amid global trade headwinds
KUALA LUMPUR:Malaysia's economy is gearing up for a measured but steady climb through 2025 and into 2026, balancing persistent global tariff pressures with robust domestic policy support and fresh growth catalysts on the horizon. UOB Global Economics & Markets Research's latest assessment strikes a cautious note but underscores Malaysia's resilience in the second half of 2025 (2H25) as the economy adapts to shifting trade dynamics. A key shift came on Aug 1, when US President Donald Trump confirmed reciprocal tariffs of 19 per cent on imports from Malaysia and most trading partners – notably lower than the previously scheduled 25 per cent – which took effect on Aug 7. The White House also extended the deadline for new China tariffs by 90 days to mid-November, providing breathing space for global supply chains. Some US measures – including sector-specific duties under Section 232 and a 10 per cent levy targeting BRICS nations and their allies – remain pending, keeping global trade uncertainty in play. But on the home front, Malaysia's pro-growth policies are expected to provide a buffer. Cash assistance to households, salary increases for civil servants, and ongoing infrastructure rollouts will continue to drive domestic demand, offsetting some of the external headwinds. UOB noted that the introduction of new fiscal reforms – such as an expanded sales and service tax (SST), mandatory e-invoicing, and full enforcement of higher minimum wages – may temporarily temper business sentiment and spending in 2H25. Meanwhile, the oil and gas sub-sector faces potential output disruptions, posing another downside risk. Bank Negara Malaysia has kept its 2025 GDP growth forecast unchanged at between 4 per cent and 4.8 per cent, saying it has already accounted for a range of possible tariff outcomes. The central bank governor Datuk Seri Abdul Rasheed Ghaffour sees no need to revise projections, noting that the completion of key tariff negotiations has helped reduce uncertainty. UOB noted that on a seasonally adjusted basis, real GDP improved for the second straight quarter and the most in a year by 2.1 per cent quarter-on-quarter (QoQ) last quarter (from positive 0.7 per cent in 1Q25). "Stronger domestic demand (particularly private consumption and total investment) was the main contributor to 2Q25 GDP growth, counterbalancing the weakness in external sectors." UOB said that looking ahead, 2026 could mark a turning point. Growth is projected to pick up to 4.5 per cent, supported by a possible 25-basis-point cut in the overnight policy rate to 2.50 per cent by the end of the fourth quarter of 2025 (4Q25), an expansionary federal budget to be tabled on Oct 10, and the next phase of salary hikes for civil servants in January. Tourism is set to be a major economic driver, with Visit Malaysia Year 2026 expected to draw strong arrivals from China thanks to visa exemptions, newly signed Malaysia–China tourism cooperation MOUs, and expanded direct flight routes. Sector performance remains broadly encouraging. Hong Leong Investment Bank Bhd (HLIB) projects a healthy 4.3 per cent year-on-year (YoY) expansion in the second quarter of 2025, following a 4.4 per cent rise in the first quarter, underpinned by a rebound in agriculture and sustained growth in services, manufacturing, and construction. Malaysia is poised to weather global trade turbulence in 2025, with domestic demand, targeted fiscal measures, and a robust labour market expected to offset external headwinds. According to HLIB, private consumption will remain the country's primary growth engine, bolstered by steady employment, wage gains, and policy support. A key boost will come from a one-off RM100 cash transfer for all adults between Aug 31 and Dec 31, 2025. If fully spent, the RM2 billion injection could lift private consumption by 0.2 percentage points. FISCAL AND MONETARY POLICIES TO SPUR GROWTH Putra Business School Professor Dr Ahmed Razman Abdul Latiff said the country's GDP growth trajectory in both the short and long term will be shaped by how effectively fiscal and monetary policies are deployed. He said that in the short run, fiscal and monetary policies can influence GDP growth through cash stimulus packages, tax restructuring, calibration of the overnight policy rate (OPR) and controlling the flow of money supply. "In the long run, it is more on the policies that promote productivity, bringing in more investments into the country and reform on business accessibility and ease of doing business," he told Business Times. On Bank Negara's challenge of balancing credit growth with financial stability, Ahmed Razman suggested broadening financing options. "Bank Negara can maintain financial stability by diversifying financing platforms towards encouraging more equity-based financing as well as smart partnership financing, away from debt-based financing," he said. Meanwhile, the Socio-Economic Research Centre (SERC) said the interactions between monetary and fiscal policy are complex given their mutual influence and impact, particularly on economic growth, consumer demand and investment spending via lower interest rates, inflation and debt. SERC executive director Lee Heng Guie, meanwhile, noted that while interest rates can be lowered to make them less restrictive in supporting domestic demand amid current short-term economic uncertainties, the focus must remain on safeguarding price stability and preventing financial instability. "During the previous periods of major economic shocks, low interest rates were needed during an economic recession or severe economic downturn. "When the economy has recovered post-Covid, interest rates have been gradually normalised, as the extended periods of low interest rates pose a problem for economic and financial stability because they encourage excessive risk-taking," he said. Lee added that while fiscal support is needed to complement less restrictive monetary policy to ensure continued economic growth, it should prioritise prudence, utilising fiscal space when needed and rebuilding buffers afterwards to ensure long-term debt sustainability.
