Market Reports

Daily Market Report (9 Nov 2021)
Daily Market Report (9 Nov 2021)
  • US equities closed at record highs again after the Congress passed the US$1 trillion infrastructure package.
  • The DJI Average was up 104 points to above the 36,400 mark whilst the Nasdaq added 11 points to almost the 16,000 level.
  • On the local front, the FBM KLCI inched higher from bargain hunting activities and we reckon the same should continue today.
  • With the Malaysia/Singapore border set to reopen by end November, sentiments should further improve as the domestic economy improves.
  • Therefore, we believe the index to hover within the 1,530-1,540 range today.
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Daily Market Report (8 Nov 2021)
Daily Market Report (8 Nov 2021)
  • Despite the imminent tapering by end-November, Wall Street cheered the better than expected job data as all 3 major indices closed on record high again.
  • The DJI Average was up 204 points while the Nasdaq was 31 points higher at almost the 16,000 mark. We expect regional markets to react positively on Wall Street performance today.
  • For the local bourse, following a week long downtrend, we anticipate some bargain hunting to emerge today.
  • Therefore, we anticipate the index to see some upside today and to hover within the 1,530-1,540 range though sentiments remains cautious.
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Daily Market Report (5 Nov 2021)
Daily Market Report (5 Nov 2021)
  • US equities closed rather mixed as the Federal Reserves will start its tapering program this month amid some strong economic data. 
  • The DJI Average lost 33 points to remain above the 36,100 level while the Nasdaq jumped by 129 points nearing the 16,000 mark.
  • Back home, the FBM KLCI continued to see some selling pressure. Foreign fund sellers emerged as the index was kept at the 1,530 level for most of the afternoon session.
  • We believe such patter to persist and expect the index to remain under selling pressure over the short term.
  • For today, we anticipate the FBM KLCI to trend within the 1,525-1,535 range.
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Daily Market Report (3 Nov 2021)
Daily Market Report (3 Nov 2021)
  • Wall Street rose to record highs again on the back of strong corporate earnings. All 3 major indices closed on a high with the DJI Average ended at above the 36,000 mark.
  • As for the local bourse, the FBM KLCI was propped up by bargain hunting activities following a sharp sell-down on Monday.
  • We reckon trading to be rather muted today as most will be away for Deepavali celebration tomorrow. Thus, we expect the index to hover around the 1,530-1,540 range today.
  • Meanwhile, the crude palm oil price recovered to around the RM5,400/tonne due to weaker output. We also noticed that the monthly average price for CPO in October hit a record high as well at RM5,050/tonne.
  • For beer drinkers, be prepared to pay more as prices will be revised higher by the 15th this month.
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Daily Market Report (2 Nov 2021)
Daily Market Report (2 Nov 2021)
  • Economic recovery and downward trending Covid 19 cases buoyed sentiments as US equities resumed with their uptrend.
  • As a result, the DJI Average closed 94 points higher to almost 36,000, a new record high.
  • Back home, knee jerk reaction towards Budget 22 saw a sharp decline on the FBM KLCI as market undertone turned bearish.
  • For today, we reckon the local bourse to experience sustain selling pressure as outlook for the local bourse has largely turned negative.
  • Though bargain hunting may emerge, any upside may be countered by selling activities as we expect unloading of equities is set to continue.
  • For today, we foresee the index to hover within the 1,525 – 1,535 range.
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