Market Reports

Daily Market Report (27 Oct 2021)
Daily Market Report (27 Oct 2021)
  • Wall Street closed off their highs amid a volatile session as profit taking activities set in.
  • All 3 major indices ended on a flat note with the DJI Average gained a mere 16 points while the Nasdaq inched 9 points higher.
  • This may set a volatile tone for regional markets today and as for the local bourse, we reckon the mood to be cautious again ahead of Budget 2022.
  • The FBM KLCI had so far trended within a tight range and we believe such moving pattern to continue over the short term.
  • Hence, we expect the index to hover around the 1,580-1,590 today.
  • Meanwhile, the crude oil price remains elevated as expectations of a cold winter may push crude oil price even higher.
  • The Brent crude closed above the US$86/barrel yesterday.
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Daily Market Report (26 October 2021)
Daily Market Report (26 October 2021)
  • US equities closed at record highs ahead of corporate earnings report from major tech-based companies.
  • The DJI Average was up 64 points to above the 35,700 mark whilst the Nasdaq jumped by 136 points.
  • As for the local bourse, the FBM KLCI continued to move sideways from the lack of fresh leads.
  • We reckon such trend to persist though the market is seemed to be well supported from foreign funds.
  • For today, we expect the index to hover between the 1,585-1,595 range.
  • Meanwhile, crude palm oil rebounded as October is well on its way to be a record breaking month for CPO average at above the RM5,000/tonne threshold for the first time ever.
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Daily Market Report (25 October 2021)
Daily Market Report (25 October 2021)
  • Wall Street endured another mixed session last Friday as traders turned cautious amid inflationary fears and policy tightening by the Federal Reserves.
  • Though the DJI Average gained 74 points to another record high, the Nasdaq lost 125 points.
  • On the local front, profit taking activities continued even though we noticed there were some bargain hunting activities.
  • The FBM KLCI dipped below the 1,590 level as volume dried up from the lack of buying catalysts.
  • Overall sentiments turned cautious from external factors noticeably due to heightened trading volatility.
  • As we edged towards Budget 22 this Friday, we reckon trading to remain cautious as many are curious if is enough to revive the nation’s economy.
  • For today, we expect the index to hover between the 1,585-1,595 range.
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Daily Market Report (22 October 2021)
Daily Market Report (22 October 2021)
  • It was a rather mixed session on Wall Street on the back of positive earnings amid inflationary fears.
  • The DJI Average was down slightly but the S&P 500 closed at a record high at almost the 4,550 level.
  • As for the local bourse, profit taking activities emerged as the FBM KLCI declined to below the 1,600 mark again.
  • Though there was some bargain hunting, it was insufficient to prop up the index.
  • Yesterday’s decline may have investors back in cautious mode but we believe it presents a good opportunity to bargain hunt.
  • As such, we anticipate the index to see a rebound today and expect the index to hover within the 1,590-1,600 range today.
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Daily Market Report (21 October 2021)
Daily Market Report (21 October 2021)
  • US equities continued with its uptrend on the back of a solid set of corporate earnings.
  • Sentiments remained buoyant as concerns over inflation abate for now.
  • The DJI Average added 152 points to above the 35,600 mark while the Nasdaq was flat amid the 10-year US Treasury yield hovering around to the 1.7%.
  • Back home, the FBM KLCI was well supported by foreign buying to stay above the 1,600 level and we believe the index to remain elevated at current levels.
  • As the nation is warming up to the easing lockdowns, we reckon market undertone to stay positive and expect the spillover effect onto the smaller capitalised stocks soon.
  • For today, we expect the benchmark index to hover within the 1,605-1,615 range.
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