Market Reports

Daily Market Report (12 January 2022)
Daily Market Report (12 January 2022)
  •  US equities rebounded as all 3 major indices closed higher following some steep selling over the previous sessions.
  • Nonetheless, many expect overall sentiments to remain volatile as the Federal Reserves has reiterated its tapering intentions to tackle inflation.
  • The DJI Average gained 183 points while the Nasdaq surged by 210 points to above the 15,150 level.
  • At home, the FBM KLCI continued with its uptrend with another impressive performance yesterday. As mentioned, funds were picking up banking stocks ahead of higher interest rates regime going forward.
  • As the index is heading towards its resistance at 1,570, it will be interesting to see if ongoing buying spree can push it pass the resistance decisively. If yes, then we may see the index to head towards the 1,600 mark.
  • For today, we expect the index to hover within the 1,555-1,570 range amid regional markets volatility.
  • Meanwhile, the Brent crude price trended close to the US$84/barrel buoyed by increasing demand.
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Daily Market Report (11 Jan 2022)
Daily Market Report (11 Jan 2022)
  • Trading on Wall Street has been volatile to say the least on the back of imminent hikes in interest rates. The 10-year Treasury yield briefly touched the 1.8% before settling at 1.755%.
  • While the DJI Average closed 163 points lower to just above the 36,000 level, the Nasdaq reversed earlier losses to stay up 7 points from a late afternoon rally.
  • On the front, the FBM KLCI defied expectations as bargain hunting activities pushed the index to 1,550 mark.
  • Though we anticipate regional performances to remain mixed, low valuations of the local bourse could be the main catalyst for funds snapping up banking shares yesterday on potential interest rates increase.
  • For today, we reckon buying may continue but profit taking activities could also set in. Therefore, we reckon the index to hover within the 1,545-1,560 range today.
  • Meanwhile, it was heartening to see that daily market volume has improved to above 6bn shares yesterday which is a multiple month high.
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Daily Market Report (10 January 2022)
Daily Market Report (10 January 2022)
  •  Wall Street closed on a mixed note as tech heavy Nasdaq experienced another steep decline amid higher rates as the 10-year yield is trending closer to 1.8% which is a 52-week high.
  • The DJI Average fell almost 5 points while the Nasdaq lost 145 points to end below the 15,000 mark.
  • Back home, we expect the FBM KLCI to face with some selling pressure following a strong closing last Friday.
  • Considering the heightened market volatility, we reckon regional markets to perform similarly which could impact the local bourse’s performance.
  • Therefore, we anticipate the index to possibly trend within the 1,535-1,545 range today with some downside bias.
  • As for crude prices, Brent crude price remained elevated hovering close to the US$82/barrel.
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Daily Market Report (7 January 2022)
Daily Market Report (7 January 2022)
  • Sentiments on Wall Street remained cautious as traders expect the Federal Reserves tapering to be earlier than anticipated.
  • As a result, the DJI Average lost 171 points while the Nasdaq declined by 19 points to just above the 15,000 level amid the 10-year yield inched higher to 1.73%.
  • As such, we believe regional markets performances are set to be mixed today.
  • On the home front, the FBM KLCI closed lower on rather heavy selling yesterday.
  • As market undertone continues to be weak, we reckon the index to face continuing road bumps ahead thus expect it to hover within the 1,525-1,540 range today on heightened market volatility.
  • Meanwhile, the Brent crude closed higher at US$82/barrel in view of the unrest in Kazakhstan.
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Daily Market Report (6 January 2022)
Daily Market Report (6 January 2022)
  • Sentiments were jittery on Wall Street as traders anticipate a tighter monetary policy to combat inflation.
  • As a result, the DJI Average declined by 392 points to below the 36,500 mark while the Nasdaq fell even steeper by 3.3% or 522 points as the 10-year yield jumped to 1.7%.
  • As market volatility heightens, we reckon regional markets to remain mixed today.
  • At home, the FBM KLCI was buoyed by bargain hunting activities and we expect this to continue.
  • Despite the regional headwinds, we believe the index to trend around the 1,540-1,555 range today.
  • One positive aspect of the local bourse is that daily volume is improving with more than 4bn shares traded yesterday.
  • Meanwhile, crude palm oil was up to RM5,437/tonne on worries of lower output.
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