Market Reports

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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Daily Market Report (20 October 2021)
Daily Market Report (20 October 2021)
  • Wall Street continued to be buoyed by solid corporate earnings amid concerns of higher inflation rate.
  • The DJI Average jumped by almost 200 points while the Nasdaq gained 107 points.
  • Meanwhile, the US 10-year yield surged pass 1.6% to end at 1.65%.
  • On the local front, the FBM KLCI continued with its impressive performance as it settled above the 1,600 level.
  • Persistent buying from foreign funds is expected to continue as we noticed that our regional peers are enjoying foreign funds inflow as well.
  • Therefore, we reckon the benchmark index to trend around the 1,600-1,610 range today amid some intermittent profit taking activities.
  • Prices for both our largest exports remain elevated as the crude pam oil and Brent crude stayed at above the RM5,100/tonne and US$85/barrel levels respectively.
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Daily Market Report (18 October 2021)
Daily Market Report (18 October 2021)
  • Stellar 3Q earnings helped push US equities higher as all three major indices closed on positive territory.
  • The DJI Average added 383 points to close above the 35,000 mark again while the Nasdaq was up by 74 points.
  • In view of this, we reckon regional markets to trend higher today.
  • As for the local bourse, the FBM KLCI is expected to breach the 1,600 mark today after coming close twice last week.
  • Despite the index added 35 point last week, we believe foreign buying to buoy sentiments and expect it to trend around the 1,600-1,610 range.
  • Meanwhile, buying interests are seen to continue on the Oil and Gas sector as the Brent crude breached the US$85/barrel.
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Daily Market Report (15 October 2021)
Daily Market Report (15 October 2021)
  • Sentiments on Wall Street improved buoyed by better than expected earnings reported so far for the 3Q.
  • The DJI Average 535 points to almost the 35,000 mark while the Nasdaq jumped by 252 points.
  • In view of this, regional markets are seen to trend higher today.
  • As for the local bourse, yesterday’s decline can be due to some profit taking activities but we reckon market undertone remains steady.
  • Therefore, we believe the FBM KLCI to possibly stage a mild rebound today and expect the index to trend within the 1,590-1,600 range today.
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