Market Reports

Daily Market Report (6 October 2021)
Daily Market Report (6 October 2021)
  • Bargain hunting activities pushed US equities broadly higher amid the US 10-year Treasury rates hitting above the 1.52%.
  • The DJI Average rose 311 points while the Nasdaq added 178 points to almost the 14,500 level.
  • Whether this is sustainable remains to be seen.
  • As for the local bourse, the FBM KLCI reversed previous weakness due to bargain hunting activities and we expect the index to possibly trend around the 1,530-1,540 range today as market sentiment is still rather cautious.
  • Meanwhile, the country’s two major commodities continue to perform credibly with the crude palm oil (CPO) October futures hitting a new record high of RM5,050/tonne mark whilst the Brent crude surged pass the US$82/barrel level.
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Daily Market Report (5 Oct 2021)
Daily Market Report (5 Oct 2021)
  • All 3 major indices on Wall Street ended broadly lower amid concerns over rising yields.
  • The DJI Average declined 323 points to around the 34,000 level whilst the Nasdaq lost 311 points or by more than 2%.
  • As a result, we believe regional markets to see heightened volatility today.
  • On the domestic front, we reckon market undertone to remain cautious following the political scene in Melaka.
  • Meanwhile, a lack of buying catalysts and externalities should put some pressure on the FBM KLCI today.
  • For today, we anticipate the index to trend around the 1,515-1,525 as we expect some bargain hunting to emerge if the index hovers around the 1,510 level.
  • Meanwhile, the Brent crude price has surged to a 3-year high above the US81/barrel.
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Daily Market Report (4 October 2021)
Daily Market Report (4 October 2021)
  • Wall Street rebounded as traders returned in droves to mop up shares.
  • Though inflation and tapering persist, bargain hunting activities pushed all 3 major indices higher.
  • The DJI Average rose 482 points while the Nasdaq increased by 118 points.
  • Nonetheless, we remain vigilant if this is sustainable as sentiment is still highly fragile.
  • On the local bourse, the FBM KLCI performed weaker than expected as inflow of foreign funds seem to have fizzle out.
  • We believe external uncertainties to be the main reason for the weak market undertone plaguing the domestic market amid the heightened volatility.
  • For today, we expect the index to remain stuck in a correction mode hovering within the 1,520-1,530 range.
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Daily Market Report (1 October 2021)
Daily Market Report (1 October 2021)
  • US stocks closed on a mixed note as concerns over hike in interest rates lingers.
  • Though the DJI Average added 91 points, the rates sensitive Nasdaq lost 34 points amid a volatile session for the 10-year US Treasury.
  • Hence, we can expect regional markets to experience another mixed day on heightened volatility today.
  • On the local front, the FBM KLCI continues to be supported by foreign buying despite regional markets remain wobbly.
  • As a worst regional performer, we anticipate the local bourse to play catch up reinforced by cheap valuations.
  • Though broad-based sentiments continue to be cautious, we reckon bargain hunting on blue chips to persists thus expect the benchmark index to trend around the 1,545-1,555 range today.
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Daily Market Report (30 Sept 2021)
Daily Market Report (30 Sept 2021)
  • US stocks closed on a mixed note as concerns over hike in interest rates lingers.
  • Though the DJI Average added 91 points, the rates sensitive Nasdaq lost 34 points amid a volatile session for the 10-year US Treasury.
  • Hence, we can expect regional markets to experience another mixed day on heightened volatility today.
  • On the local front, the FBM KLCI continues to be supported by foreign buying despite regional markets remain wobbly.
  • As a worst regional performer, we anticipate the local bourse to play catch up reinforced by cheap valuations.
  • Though broad-based sentiments continue to be cautious, we reckon bargain hunting on blue chips to persists thus expect the benchmark index to trend around the 1,545-1,555 range today.
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