Market Reports

Daily Market Report (7 December 2021)
Daily Market Report (7 December 2021)
  •  Wall Street rebounded as traders shook off concerns over the Omicron variant.
  • The DJI Average gained 647 points to close above the 35,500 level whilst the Nasdaq jumped by almost 140 points.
  • Back home, sentiments have turned nervy as selling gathered momentum pushing the FBM KLCI to a 52-week low. In view of this, we believe market undertone to remain weak although we expect some bargain hunting to emerge today.
  • Thus, we reckon the index to trend within the 1,480-1,490 range today.
  • Meanwhile, crude oil prices improved as the Brent closed above the US$73/barrel following Saudi Arabia’s move to increase its crude price.
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Daily Market Report ( 6 December 2021)
Daily Market Report ( 6 December 2021)
  •  Disappointing job data for November coupled with the threat from Omicron variant continued to unsettle sentiments as all 3 major indices closed lower.
  • The DJI Average declined by 60 points after trending within a 600 point range. The Nasdaq fared even worse closing almost 300 points lower at around the 15,000 level.
  • On the home front, we reckon bargain hunting activities to prevail following a weak performance last week dipping below the crucial 1,500 mark.
  • Though regional volatility will continue to hassle the local bourse, we reckon the index to hover within the 1,495-1,505 range today.
  • Meanwhile, crude oil improved slightly with the Brent now trending at above the US$71/barrel having touched the US$68/barrel last week.
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Daily Market Report ( 2 December 2021)
Daily Market Report ( 2 December 2021)
  •  Worries over Omicron detected in the US reversed early gains for all 3 major indices on Wall Street as sellers came out in droves.
  • The DJI Average lost 462 points to settle at the 34,000 level while the Nasdaq declined by 284 points.
  • In view of the heightened volatility, we believe regional markets to follow suit today as sentiments may have turned jittery.
  • On the local front, we expect the FBM KLCI to oscillate between the 1,495-1,505 today as our low valuation may act as a buffer to the externalities.
  • We expect trading to remain low today as investors may be sidelined with focus possibly be back on glove related stocks.
  • Meanwhile, the emergence of the new Covid variant have also seen crude oil price weakened with the Brent crude now retreated to below the US$70/barrel.
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Daily Market Report ( 1December 2021)
Daily Market Report ( 1December 2021)
  •  Wall Street was spooked by fresh concerns over the Omicron variant coupled with the Federal Reserves statement to speed up its tapering to tackle inflation.
  • As a result, the DJI Average declined by 650 points to end below the 34,500 mark while the Nasdaq lost 245 points to close at 15,538 level.
  • On the home front, the FBM KLCI made some improvements despite market undertone remained jittery
  • . For today, we reckon the index to maintain its consolidation mode and trend within the 1,510-1,520 range as we expect some bargain hunting may return on glove counters following yesterday’s selling amid the Omicron panic.
  • Meanwhile, crude oil prices were hammered by the new variant with the Brent now hovering at the US$70/barrel from its 52-week high of US$85/barrel.
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Daily Market Report ( 30 November 2021)
Daily Market Report ( 30 November 2021)
  • US equities rebounded on the back of President Biden’s statement that there will be no lockdown amid the threat from the new Omicron variant.
  • The DJI Average jumped by 236 points to above the 35,000 mark while the Nasdaq surged by more than 290 points to almost the 15,800 level. 
  • Meanwhile the 10-year yield climbed to above 1.5% after Friday’s knee jerk reaction.
  • As for the local bourse, we expect the FBM KLCI to trend higher today following yesterday’s brief encounter around the 1,500 level. We reckon bargain hunting activities to emerge today as sentiments recover surrounding the glove counters.
  • For today, we expect the index to hover within the 1,510 – 1,520 range. Meanwhile, the crude palm oil is expected to end November on a record high averaging above RM5,200/tonne from last month’s RM5,051/tonne.
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