Market Reports

Daily Market Report (5 April 2022)
Daily Market Report (5 April 2022)
  •  US equities ended broadly higher as bargain hunting activities continued particularly on technology stocks.
  • The DJI Average was up by 104 points while the Nasdaq surged by 271 points as the US 10-year yield remained stagnant at 2.39%.
  • Back home, the FBM KLCI dipped to below the 1,600 level amid some profit taking activities.
  • For today, we expect the benchmark index to trend higher along with the stronger regional performance hence anticipate it to hover between the 1,595-1,605 range.
  • Meanwhile, the Brent crude rebounded to US$107/barrel as traders do not expect the US releasing of its strategic supply to have any material impact on overall supply.
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Daily Market Report (4 April 2022)
Daily Market Report (4 April 2022)
  •  Wall Street closed higher due to some bargain hunting activities following a weak 1Q performance.
  • The DJI Average gained 139 points while the Nasdaq rose a mere 41 points as the US 10-year yield ended at 2.4%.
  • Meanwhile the local bourse closed higher as the FBM KLCI broke above the 1,600 level attributed to last minute buying activities from foreign funds.
  • Despite market undertone remains cautious, we reckon further accumulation by foreign funds to persist thus expect the index to trend around the 1,595-1,610 range today.
  • News of the US will release its strategic oil reserves saw the Brent crude dipped to US$104/barrel.
  • As for the crude palm oil, though prices may have eased of late, its average price for March saw another all time high at RM,6870/tonne.
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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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