Market Reports

Daily Market Report (28 December 2021)
Daily Market Report (28 December 2021)
  • US equities surged despite the spike in Omicron variant cases in the US as many see the risks to be less severe than earlier expected.
  • The DJI Average gained 350 points to above the 36,000 mark whilst the Nasdaq jumped by 218 points.
  • Amid the continuous rally on Wall Street, we reckon regional markets to perform better today.
  • On the home front, bargain hunting cum window dressing activities continued to push the FBM KLCI to almost a 2-month high.
  • We believe buying interests to remain on the blue chips hence the index to hover within the 1,530-1,540 range today.
  • Meanwhile, declining stocks in the US has pushed crude prices higher with the Brent crude currently trending closer to the US$79/barrel level.
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Daily Market Report (27 December 2021)
Daily Market Report (27 December 2021)
  • Wall Street was closed for the Christmas holidays.
  • As for the local bourse, last minute buying activities helped push the FBM KLCI to end on a flat note having been in the negative territory for best part of the day.
  • Despite a mixed regional performance, we reckon window dressing activities continued to play its part.
  • For today, we anticipate bargain hunting may continue amid sentiments to remain cautious thus expect the index to trend within the 1,510-1,520 range today.
  • Meanwhile, crude palm oil (CPO) price had breached the RM5,000/tonne to end at RM5,125/tonne whilst the Brent crude price stayed elevated at above the US$76/barrel.
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Daily Market Report (24 December 2021)
Daily Market Report (24 December 2021)
  •  Wall Street continued with its Santa Claus rally as concerns over the Omicron variant recede.
  • The rally was broad based as all 3 major indices surged with the S&P 500 closed at a new record high.
  • The DJI Average added almost 200 points whilst the S&P 500 jumped by 30 points.
  • On the local front, the FBM KLCI close at a 1-month high buoyed by bargain hunting coupled with some window dressing activities.
  • We believe the benchmark index to possibly continue with its uptrend today amid a more vibrant regional performance.
  • Nonetheless, profit taking activities could set in thus we expect the index to trend within the 1,510-1,520 range today.
  • Meanwhile, crude oil prices also benefitted from the lower Omicron threat as the Brent crude inched closer towards the US77/barrel level.
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Daily Market Report ( 23 November 2021)
Daily Market Report ( 23 November 2021)
  • Ignoring the latest Covid threat and the imminent Federal Reserves’ tapering, Wall Street continued with its rally as the DJI Average gained 261 points to inch closer to the 35,800 mark while the Nasdaq climbed 180 points to stay above the 15,500 level.
  • Spurred on by a more solid regional performance, the FBM KLCI rebounded to above the 1,500 threshold as bargain hunting activities took place.
  • For today, we reckon the local bourse to possibly continue with its uptrend however profit taking may take place as market undertone remains rather cautious.
  • Hence, we expect the benchmark index to trend around the 1,495-1,505 range today.
  • Meanwhile the crude palm oil (CPO) edged closer to the RM5,000/tonne level tracking the stronger Soya bean prices.
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Daily Market Report (22 December 2021)
Daily Market Report (22 December 2021)
  •  Wall Street staged a relief rebound following President Biden’s statement that lockdown will not be implemented amid concerns over the Omicron variant.
  • The DJI Average jumped by 560 points to almost the 35,500 level whilst the Nasdaq surged by 360 points.
  • Notwithstanding this, we anticipate sentiments to remain jittery translating to heightened market volatility.
  • As for the local bourse, we reckon the FBM KLCI movements will continue to be hampered by persistent selling by the foreign funds.
  • Therefore, we do not see the index to stage any solid rebound and expect it to trend within the 1,490-1,500 range today.
  • Meanwhile, crude palm oil (CPO) price closed higher in line with the recovery in soyabean oil prices and the reduction of import duty by India on CPO.
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