Market Reports

Daily Market Report (18 February 2022)
Daily Market Report (18 February 2022)
  • US Equities slumped amid heightened tension in Ukraine as treaders rotated their funds into bonds instead.
  • The DJI Average declined by 622 points while the tech heavy Nasdaq lost 407 points to close almost the 13,700 level.
  • Meanwhile, the US 10-year yield eased to 1.97%.
  • On the home front, the FBM KLCI remained above the 1,600 mark despite some intermittent correction yesterday.
  • We believe the index uptrend remains on track and expect it to trend within the 1,595-1,610 range today amid the escalating Russian-Ukraine tension.
  • The crude palm oil closed at another record high at RM5,970/tonne buoyed by weaker production outlook of its rivals namely corn and soybean.
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Daily Market Report (17 February 2022)
Daily Market Report (17 February 2022)
  • Wall Street closed mixed following a volatile session as sentiments remained very much affected by the situation in Ukraine coupled with the imminent rate hike by the Federal Reserves.
  • The US 10-year yield is currently trending around the 2.04% level.
  • The DJI Average was down 55 points after a 400-point swing while the Nasdaq declined by 16 points.
  • As for the local bourse, market undertone seems strong as the FBM KLCI’s settled above the 1,600 level which is a year to date high.
  • We reckon the index to chart higher as buying from the foreign funds is expected to resume.
  • For today, we believe the index to hover within the 1,600-1,610 range though a mild correction is anticipated anytime soon.
  • Meanwhile, the crude palm oil eased marginally to RM5,836/tonne on higher production data.
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Daily Market Report (16 February 2022)
Daily Market Report (16 February 2022)
  •  Wall Street rebounded as the tension over in Ukraine seems to be cooling down.
  • The DJI Average closed 423 points to almost the 34,500 level while the Nasdaq jumped by 349 points higher.
  • Nonetheless, the US 10-year yield inched pass the 2% mark amid the imminent rate hike by the Federal Reserves.
  • Though the rebound may be a temporary reprieve for US equities, we believe heighten market volatility to stay.
  • At home, the FBM KLCI continued with its uptrend and if the 1,600 is broken decisively, next target is seen at the 1,620 level.
  • Meanwhile, we expect there to be some intermittent correction for the local bourse soon.
  • For today, the index is seen to hover between the 1,595-1,610 range.
  • The Brent crude declined by more than 3% to around the US$93/barrel as the Russia-Ukraine tension eased.
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Daily Market Report (15 February 2022)
Daily Market Report (15 February 2022)
  •  Wall Street ended in negative territory as sentiments continued to be jittery amid the imminent rate hike coupled with the ongoing tension in Ukraine.
  • The DJI Average lost 172 points to close around the 34,500 mark while the Nasdaq closed flat.
  • In the meantime, the US 10-year yield inched closer to the 2% level.
  • On the home front, the FBM KLCI continued with its uptrend for the fifth consecutive day despite regional weaknesses.
  • The market is currently overbought hence we may see some profit taking activities to emerge anytime soon.
  • For today, we expect the index to hover within the 1,575-1,590 range today.
  • Meanwhile, the crude palm oil closed at a record high of RM5,935/tonne as India cut its import duty.
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Daily Market Report (14 February 2022)
Daily Market Report (14 February 2022)
  • Selling pressure continued on Wall Street with all 3 major indices closed lower as traders unlock their holding on equities over the escalating tension in Ukraine.
  • The DJI Average lost 503 points to below the 35,000 level while the Nasdaq slumped 395 points.
  • Meanwhile, the US 10-year yield remains above the 1.9%.
  • Back home, the FBM KLCI again defied expectations despite regional weaknesses to end higher largely propped up by foreign buying.
  • We believe there is a possibility that the index may challenge the 1,600 mark in due course.
  • For today, we anticipate the index to trend within the 1,570-1,585 range. The
  • Brent crude price jumped to almost the US$95/barrel on concerns over the situation in Ukraine as well.
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