Market Reports

Daily Market Report ( 22 November 2021)
Daily Market Report ( 22 November 2021)
  •  Wall Street was spooked by fresh restrictions over in Europe in view of the spike in Covid cases.
  • Ongoing protests in various European countries further exacerbated the situation as the DJI Average lost almost 270 points while the Nasdaq jumped by 63 points to above the 16,000 mark.
  • In view of the European scenario, crude oil prices retreated as the Brent dipped to below the US$80/barrel level.
  • Back home, the FBM KLCI continued with its consolidation though it ended higher from some buying by the foreign funds.
  • For today, we would expect the index to trend higher due to the just concluded election in Melaka which displayed more clarity on the political front and expect the FBM KLCI to trend within the 1,525-1,535 range.
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Daily Market Report (19 Nov 2021)
Daily Market Report (19 Nov 2021)
  • Wall Street ended on a mixed note despite corporate earnings continued to shine.
  • The DJI Average declined by 60 points while the Nasdaq gained 72 points to almost the 16,000 mark as the US 10-year yield dipped to below the 1.6%.
  • Back home, the FBM KLCI hovered within a tight 6 point range before settling on a flattish note. Trading was tepid as volume traded ended below the 3bn mark.
  • As corporate earnings had started, we noticed the results are on a weak side for the 3Q so far.
  • Meanwhile, crude palm oil continue with its climb as prices are now at the RM5,450/tonne level.
  • For today, we expect the index to remain directionless and trend within the 1,520-1,530 range.
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Daily Market Report (18 Nov 2021)
Daily Market Report (18 Nov 2021)
  • Lingering concerns over inflation saw Wall Street closed weaker as all 3 major indices ended in negative territory.
  • The DJI Average lost 211 points to below the 36,000 mark while the Nasdaq gave up 52 points.
  • On the domestic front, the FBM KLCI remained stuck within a consolidation mode as the index closed higher from last minute buying.
  • As we enter into the 3Q earnings season, we expect the local bourse to see muted reaction as corporate results may be impacted by the MCO.
  • Nonetheless, we reckon results from the Banks and Plantation players to be strong.
  • For today, we expect the index to trend around the 1,520-1,530 range.
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Daily Market Report (17 Nov 2021)
Daily Market Report (17 Nov 2021)
  • US equities rebounded on a strong retail data for October as all 3 major indices closed higher.
  • The DJI Average was up 55 points while the Nasdaq closed 120 points higher nearing the 16,000 mark.
  • On the home front, sentiments remain cautious as the FBM KLCI ended flat despite hovering on positive territory for most of the session.
  • Though we reckon bargain hunting to emerge, the lack of buying catalysts will continue to hinder the progress of the index.
  • For today, we anticipate the index to trend within the 1,520-1,530 range again.
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Daily Market Report (16 Nov 2021)
Daily Market Report (16 Nov 2021)
  •  Wall Street closed flat on the back of higher yield as the US 10-year yield surged pass the 1.6% again.
  • The DJI Average lost 13 points to remain above the 36,000 mark while the Nasdaq was down by 7 points.
  • As for the local bourse, the FBM KLCI succumbed to profit taking activities after a positive opening. The index is now hanging precariously above its support level of 1,520. T
  • herefore, we reckon some bargain hunting to emerge as we expect the index to hover within the 1,520 to 1,530 range today.
  • Meanwhile, crude palm oil continue with its uptrend on the back of strong exports with the spot price now at RM5,420/tonne.
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