Market Reports

Daily Market Report (1 April 2022)
Daily Market Report (1 April 2022)
  • Sellers emerged on Wall Street as ongoing war in Ukraine and more interest rate hikes continue to plague overall sentiments.
  • As a result, the DJI Average dipped by 550 points while the Nasdaq lost 222 points as the 10-year yield remained elevated above the 2.3% level.
  • At home, the FBM KLCI closed higher despite the regional weakness supported by some late buying from foreign buying.
  • Overall sentiments is seen to remain cautious due to the lack of catalysts thus we reckon the index to hover between the 1,580-1,595 range today.
  • Meanwhile, the Brent crude eased to settle at US$107/barrel on news that OPEC will increase supply.
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Daily Market Report (30 March 2022)
Daily Market Report (30 March 2022)
  • US equities closed higher as sentiments improved amid the ongoing ceasefire negotiations between Russia and Ukraine.
  • The DJI Average jumped by 338 points while the Nasdaq gained 265 points.
  • Meanwhile, the US 10-year yield remains at around the 2.4% mark.
  • Back home, the FBM KLCI continued with its downtrend as the index was dragged down further due to the lack of buying catalysts.
  • Nonetheless, we believe bargain hunting should emerge thus expect the index to hover within the 1,580-1,595 range today.
  • As for the Brent crude, it closed lower at US$110/barrel amid the ongoing peace talk.
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Daily Market Report (29 March 2022)
Daily Market Report (29 March 2022)
  • Wall Street ended broadly higher as traders shook off recessionary concerns and the ongoing war in Ukraine.
  • The DJI Average gained 95 points while the Nasdaq jumped by 186 points despite the US 5-year yield surged pass 2.63% ahead of the 30-year yield of 2.6%.
  • On the home front, the FBM KLCI closed below the 1,600 again following some bouts of profit takings.
  • For today, we expect the index to possibly trend between the 1,590-1,605 range amid some bargain hunting activities as the country is bracing for the opening of its borders.
  • Meanwhile, the Brent crude slid to US$112/barrel due to the latest lockdown in Shanghai.
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Daily Market Report (28 March 2022)
Daily Market Report (28 March 2022)
  • Defying the ongoing war in Ukraine and more prospective rate hikes, Wall Street ended on a mixed note as the DJI Average gained 153 points while the Nasdaq lost 22 points as the US 10-year yield edged closer to the 2.5% mark.
  • At home, the FBM KLCI broke the 1,600 level, attributed to some last minute buying from foreign funds.
  • Nonetheless, we reckon market undertone to remain cautious thus expect the index to trend within the 1,595-1.610 today.
  • If the benchmark index can maintain its current uptrend, we should see it to test the 1,620 mark.
  • Meanwhile the Brent crude inched above the US$120/barrel on concerns over the supply side amid the ongoing war.
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Daily Market Report (25 March 2022)
Daily Market Report (25 March 2022)
  •  Wall Street rebounded on the back of falling jobless claims indicating improving economic recovery in the US.
  • The DJI Average gained almost 350 points while the Nasdaq jumped by 269 points.
  • As for the US 10-year yield, it closed at the 2.37%.
  • Back home, the FBM KLCI ended slightly higher due to some late buying but remained below the 1,600 mark.
  • We reckon the index may break above the 1,600 threshold thus expect the index to trend between the 1,590-1605 range today.
  • The total reopening of borders between Malaysia and Singapore on April 1, should improve sentiments somewhat especially on tourism and consume related sectors.
  • Meanwhile both the Crude palm oil and Brent crude eased to RM6,500/tonne and US$119/barrel respectively.
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