Market Reports

Daily Market Report (21 March 2022)
Daily Market Report (21 March 2022)
  • Despite the ongoing war in Ukraine coupled with Federal Reserves stance on more rate hikes, US equities closed higher however whether this is sustainable remains to be seen.
  • The DJI Average gained 274 points while the Nasdaq jumped by 279 points.
  • Meanwhile, the US 10-year yield remained above the 2% threshold at 2.15%.
  • At home, the FBM KLCI ended slightly higher having been in the negative territory throughout the day attributed to late buying especially from foreign funds.
  • As market volatility heightens, we reckon the index to trend within a range of between 1,580-1,600 today.
  • As for the Brent crude, it closed at US$108/barrel as concerns on the supple side lingers.
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Daily Market Report (17 March 2022)
Daily Market Report (17 March 2022)
  • Wall Street closed sharply higher after the Fed lifted interest rates heavily designed to counter inflation while investors considered the 25-basis points hike came in inline with market expectations.
  • The DJIA surged more than 500 points while Nasdaq and S&P500 rose 488 and 95 points respectively.
  • Back home, the FBM KLCI rebounded as investors took opportunity to bargain hunt following 3 days of selldown.
  • We believe bargain hunting to continue given the cheap valuations of local stocks and improving market sentiment globally, hence expect the FBM KLCI to trade within range of between 1,565-1,585 for today.
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Daily Market Report (16 March 2022)
Daily Market Report (16 March 2022)
  • Notwithstanding the imminent rate hike by the Federal Reserves, Wall Street staged a relief rally as crude oil declined amid a highly volatile market.
  • The DJI Average gained almost 600 points while the Nasdaq surged by 367 points.
  • Meanwhile, the US 10-year yield stayed above the 2% level at 2.15%.
  • Back home the FBM KLCI weakened dragged down by losses within the regional markets attributed to fresh lockdowns in China.
  • Despite sentiments to remain cautious, we expect some bargain hunting activities to emerge thus anticipate the index to trend around the 1,550-1,570 range today.
  • Meanwhile, crude palm oil rebounded to above the RM7,000/tonne while the Brent dipped to below the US$100/barrel.
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Daily Market Report (15 March 2022)
Daily Market Report (15 March 2022)
  •  Ongoing tension between Russia and Ukraine coupled with the highly anticipated rate hike by the Federal Reserves saw US equities closing on a mixed note.
  • While the DJI Average ended flat, the Nasdaq was down by 262 points as the US 10-year yield surged past the 2% to close at 2.14%.
  • Locally, the FBM KLCI closed flat due to some late buying from foreign funds. For today, we reckon the index to trend higher attributed to continuous support from foreign funds and expect it to trend within the 1,560-1,580 range.
  • Meanwhile, profit taking activities saw the crude palm oil dipped below the RM7,000/tonne level while the Brent was down to US$107/barrel on the back of another lockdown in Shenzen.
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Daily Market Report (14 March 2022)
Daily Market Report (14 March 2022)
  • Wall Street closed sharply lower as tech and growth shares led a broad decline and investors worried about the conflict in Ukraine while attention turned to the Federal Reserve's policy meeting in this week.
  • The DJI Average lost 230 points while the Nasdaq declined by 286 points. We reckon the Fed to tighten monetary policy this year to fight the 40-year high inflation.
  • As for the local bourse, we reckon investor sentiment to remain jittery though bargain hunting activities may emerge as well.
  • As such, we anticipate the FBM KLCI to trend in range bound and hovering within the 1,560-1,580 range for today.
  • The crude palm oil eased to below RM7,000 level with the Brent crude remained high at above US$110/barrel.
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