Market Reports

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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Daily Market Report (24 March 2022)
Daily Market Report (24 March 2022)
  • US equities eased as concerns over inflationary pressures attributed to escalating oil prices that may contribute to global recession.
  • The DJI Average lost almost 450 points while the Nasdaq declined by 186 points.
  • Meanwhile, the US 10-year yield surged above the 2.4% at one time before settling at 2.3% at the close.
  • On the home front, the FBM KLCI closed higher but failed to break the tough resistance of 1,600 mark.
  • As market volatility heightens, we reckon the index to trend within the 1,585-1,605 today.
  • The crude palm oil rebounded to almost the RM6,700/tonne buoyed by the surge in Brent crude which topped US$121/barrel on worries of lower inventories.
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Daily Market Report (23 March 2022)
Daily Market Report (23 March 2022)
  •  Wall Street rebounded as traders digested the Federal Reserves recent statement of more aggressive rate hikes.
  • The DJI Average gained 254 points while the Nasdaq jumped by 270 points as the 10-year Treasury yield inched higher to around 2.4%.
  • Back home, sentiment remained jittery as the FBM KLCI movements was rather volatile.
  • Thus, we reckon the index to trend within the 1,580-1,595 range today in the absence of strong buying catalysts.
  • Meanwhile, the crude palm oil rebounded to almost the RM6,500/tonnes while the Brent crude eased slightly to US$115/barrel.
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Daily Market Report (22 February 2022)
Daily Market Report (22 February 2022)
  •  Wall Street declined following the Federal Reserves’ statements of more aggressive interest rate hikes to curb inflation going forward.
  • The DJI Average lost about 200 points while the Nasdaq dipped by around 55 points.
  • Meanwhile, the US 10-year yield inched higher to 2.3% following the Feds statement.
  • On the home front, the FBM KLCI weakened as sentiments remained cautious due to lack of buying catalysts.
  • For today, we reckon the index to hover within a narrow range of between 1,580-1,595.
  • As for the Brent crude, it broke above the US$110 to close at almost US$116/barrel as concerns over the supply side heightens.
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