Market Reports

Daily Market Report ( 4 January 2022)
Daily Market Report ( 4 January 2022)
  •  US equities closed higher on hopes that the US economy can overcome the surge in Covid cases.
  • The DJI Average gained 247 points to near the 36,600 mark while the Nasdaq jumped by 188 points.
  • Meanwhile, the US 10-year Treasury yield ended around the 1.64% level.
  • On the home front, we reckon some bargain hunting to emerge today following yesterday’s decline.
  • Therefore, we believe the FBM KLCI to trend higher at around the 1,550-1,560 range today.
  • With expectations of hikes in interest rates imminent, banking stocks should be back into the limelight going forward.
  • Meanwhile, it would be interesting to see if the crude palm oil can maintain its high pricing this year as it closed at RM5,258/tonne yesterday.
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Daily Market Report (3 January 2022)
Daily Market Report (3 January 2022)
  • Wall Street ended 2021 on a low as all three major indices closed in negative territory.
  • The DJI Average lost 60 points whilst the Nasdaq declined by almost 97 points.
  • 2022 is expected to be a tougher year for US equities amid the Federal Reserves’ tightening monetary policy thus market volatility is anticipate to increase.
  • Back home, the FBM KLCI ended 2021 on a high from last minute buying.
  • However, we believe the index to face with some selling down due to the lack of buying catalysts and see the index to hover within the 1,550-1,560 range today.
  • Meanwhile, both the crude palm oil and crude oil prices remain elevated currently at RM5,159/tonne and US$78.26/barrel respectively.
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Daily Market Report (31 December 2021)
Daily Market Report (31 December 2021)
  •  Major indices on Wall Street all closed lower despite a better than expected job data as trading remained thin.
  • The DJI Average lost 90 points whilst the Nasdaq was down 25 points. We reckon market volatility to persist regionally as we head towards the final trading day for 2021.
  • Back home, the FBM KLCI closed marginally lower amid some profit taking activities.
  • We believe some window dressing may continue and expect the index to hover between the 1,540-1,550 range today.
  • Meanwhile, confirmation of a RM1,000 cap on stamp duty is certainly good news for the local bourse and we expect this should boost overall trading activities.
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Daily Market Report (30 December 2021)
Daily Market Report (30 December 2021)
  •  Wall Street’s Santa Claus rally ended on a mixed note yesterday as trading was rather muted.
  • The DJI Average rose 90 points to almost the 36,500 level whist the Nasdaq ended in the red with a loss of 15 points on the back of higher 10-year US Treasury yield which jumped above 1.55%.
  • On the home front, window dressing activities continued as the FBM KLCI closed higher from last minute buying activities.
  • Though we reckon buying to persist, the index may face with some headwinds as the benchmark index had risen by 65 points over the past 2 weeks.
  • Nonetheless, we expect the index to trend around the 1,540-1,550 today from bargain hunting activities as it is still down by 5% year to date.
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Daily Market Report (29 December 2021)
Daily Market Report (29 December 2021)
  • Wall Street ended mixed as profit taking took place following a record breaking run.
  • The DJI Average jumped 96 points to almost the 36,400 mark while the Nasdaq lost almost 90 points.
  • We reckon sentiments may turned cautious amid the surge in Omicron cases globally hence heightened market volatility.
  • On the home front, the FBM KLCI continued with its uptrend buoyed by window dressing activities to end up on a 2-month high.
  • Though we expect ongoing bargain hunting to continue, sentiments may turn lukewarm ahead of a more volatile regional performance.
  • As such, we expect the index to trend around the 1,535-1,545 range today.
  • Meanwhile, crude oil prices remained high with the Brent currently trading near the US$80/barrel.
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