Market Reports

Daily Market Report (13 October 2021)
Daily Market Report (13 October 2021)
  • All 3 major indices on Wall Street closed lower as traders were sidelined ahead of the latest inflation data.
  • The DJI Average lost 118 points while the Nasdaq declined by 20 points as market volatility remains high.
  • On the home front, the FBM KLCI continued with its impressive performance due to buying support from foreign funds.
  • Though we expect there to be some intermittent profit taking activities however judging by the healthy improvements in daily volume, we reckon the local bourse to enjoy further upside.
  • As such, we expect the index to trend within the 1,580-1,590 range today with a more meaningful resistance at the 1,600 mark.
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Daily Market Report (12 Oct 2021)
Daily Market Report (12 Oct 2021)
  • US equities tumbled to close at session lows as traders are concerned over inflation amid the surging crude oil prices.
  • The DJI Average lost 250 points to below the 34,500 mark while the Nasdaq declined by 92 points.
  • On the local front, the FBM KLCI rebounded to a month high as foreign funds continued to accumulate on stocks.
  • For today, we anticipate the index to possibly trend higher at around the 1,565-1,570 range although external factors and volatility may impact sentiments.
  • As expected, with the reopening of travelling, trading interests has been centred on recovery theme plays namely tourism, aviation and oil and gas.
  • As such, do check out our technical recommendations on Genting Malaysia and Uzma.
  • As the Brent crude price inched closer to US$85/barrel with short term target at around the US$90/barrel, interest on oil and gas stocks should persists.
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Daily Market Report (11 October 2021)
Daily Market Report (11 October 2021)
  • Wall Street ended mixed as the US job data came in well short of forecast.
  • As the US 10-year yield surpassed the 1.6% mark, we believe market volatility to persists.
  • The DJI Average closed flat after hovering within a 200 point range while the Nasdaq lost 74 points.
  • On the domestic front, the FBM KLCI performed rather well amid the buying from foreign funds last week.
  • We believe such bargain hunting activities to continue thus anticipate the index to trend around the 1,560-1,570 range today notwithstanding the heightened regional volatility.
  • Meanwhile, the full opening of inter-state travel within the country should give overall sentiment a boost as well.
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Daily Market Report (8 October 2021)
Daily Market Report (8 October 2021)
  • US equities ended higher as the Senate secured a short term increase for the US debt ceiling.
  • However, sentiments remain cautious as all 3 major indices closed off their respective highs with the US 10-year yield inching closer to 1.6%.
  • The DJI Average gained 338 points while the Nasdaq ended 152 points higher.
  • For the local bourse, ongoing bargain hunting activities continued to support the FBM KLCI with interests again centered mostly on plantation companies.
  • While the broader market is seen to improve in line with Wall Street’s performance, we believe volatility remains high.
  • As such, we anticipate the index to trend within the 1,555-1,565 range today.
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Daily Market Report (7 October 2021)
Daily Market Report (7 October 2021)
  • All 3 major indices on Wall Street rebounded from their session lows as the US government secured an agreement to extend the country’s debt ceiling.
  • The DJI Average ended 102 points higher while the Nasdaq added 68 points to close above the 14,500 level.
  • Back home, the FBM KLCI surprised everyone with a strong performance. Investors snapped up plantation stocks as the crude palm oil price continues to advance.
  • Nonetheless, we prefer to remain cautious as profit taking activities may emerge thus expect the index to trend around the 1,550-1,565 range as regional volatility could play a part.
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