Market Reports

Daily Market Report (13 April 2022)
Daily Market Report (13 April 2022)
  •  Wall Street closed lower after a strong opening as the consumer price for March came in higher than expected and at its highest since 1981.
  • The DJI Average lost 88 points while the Nasdaq was down by 40 points.
  • On the home front, sentiments remained jittery amid the weak regional performance as the FBM KLCI ended below the 1,600 level again.
  • For today, we would expect the index to trend within a tight range of between 1,590-1,600.
  • Meanwhile, the Brent crude rebounded to US$105/barrel as concerns over the supply side re-emerged.
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Daily Market Report (12 April 2022)
Daily Market Report (12 April 2022)
  •  Sentiments on Wall Street turned jittery weighed on by higher yields and upcoming inflation data.
  • The DJI Average lost 413 points while the Nasdaq declined by 299 points as the US 10-year yield inched closer to the 2.8% level.
  • Back home, the FBM KLCI ended lower after a positive opening due to some profit taking activities amid a weak regional market performance.
  • For today, we reckon market undertone to remain cautious as regional weaknesses is expected to persist thus anticipate the index to hover the 1,590-1,610 range.
  • Meanwhile the Brent crude slipped to below the US$100/barrel on concerns over demand from the lockdown in Shanghai.
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Daily Market Report (11 April 2022)
Daily Market Report (11 April 2022)
  •  Wall Street closed mixed on news that the Federal Reserves will be aggressive in its tightening policy to counter inflation.
  • While the DJI Average rose 137 points, the Nasdaq declined by 186 points as the US 10-year yield rose to above the 2.7% which is a 4-year high.
  • On the home front, the FBM KLCI rose above the 1,605 mark on continuous accumulation by foreign funds.
  • We noticed there may be a shift by funds from bonds to equities with the 10-year MGS yield increase to above the 4% level.
  • For today, we reckon the index to hover within the 1,595-1,615 range. Meanwhile, the Brent crude remains above the US$100 mark to close at US$103/barrel.
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Daily Market Report (8 April 2022)
Daily Market Report (8 April 2022)
  • Wall Street rebounded and reversed earlier losses as investors took opportunity to bargain hunt stocks during the late trading session.
  • The Dow rose 87 points to end at 34,583.
  • Back home, the FBM KLCI closed marginally lower due to lack of buying interests.
  • We believe the benchmark index to remain in rangebound the short time being due to cautious sentiment though foreign buying and bargain hunting activities may emerge as well.
  • As such, we reckon the index to hover between the 1,590-1,610 range for today.
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Daily Market Report (7 April 2022)
Daily Market Report (7 April 2022)
  •  Wall Street closed lower on Wednesday as investors eyed more hawkish remarks from key monetary policymakers, suggesting more members of the Federal Reserve were open to moving aggressive interest rise to bring down demand and inflation.
  • The DJIA fell 144 points to end at 34,496.
  • Back home, FBM KLCI closed higher as bargain hunting emerged after 2 days of selldown with buying interests mainly on plantation, O&G and banking heavyweights.
  • We believe the benchmark index to remain in consolidation mode for the time being with some profit taking activities due to cautious sentiment despite foreign buying support.
  • As such, we anticipate the FBM KLCI to trend within the range of between 1,590-1,610 for today.
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