Market Reports

Daily Market Report (24 Sept 2021)
Daily Market Report (24 Sept 2021)
  • US equities extended rally as investors appeared relieved about the Federal Reserve’s stance on tapering stimulus and raising interest rates while upbeat outlooks from Accenture and Salesforce helped to bolster the market.
  • The DJI Average gained more than 500 points whilst the Nasdaq jumped by 155 points to just above the 15,000 mark.
  • As for the local bourse, shares ended broadly higher on bargain hunting activities and foreign support.
  • Overall, the performance of FBM KLCI which had been stuck in a consolidation mode in the past few days is likely to trend within a tight range in the absence of positive catalysts going forward.
  • We expect the FBM KLCI to hover between the 1,540-1,550 range today.
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Daily Market Report (23 Sept 2021)
Daily Market Report (23 Sept 2021)
  • US equities rebounded following the Federal Reserves nonchalant stance on tapering.
  • Nonetheless, all 3 major indices closed off their session highs as traders expect tapering to take place by this year anyway.
  • The DJI Average gained 338 points whilst the Nasdaq jumped by 150 points to just below the 14,900 mark.
  • Positive news that embattled Evergrande will honour its latest interest payments may stabilize regional markets further.
  • As for the local bourse, we detected the FBM KLCI continued to see some buying support from foreign funds.
  • Nonetheless, market undertone remains cautious hence we expect the benchmark index to be stuck in a narrow trading range.
  • For today, we see the FBM KLCI to hover between the 1,530-1,540 range.
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Daily Market Report (22 August 2021)
Daily Market Report (22 August 2021)
  • Rebound on Wall Street fizzled out as sentiments remained cautious ahead of the Federal Reserves’ decision on tapering and potential contagion on foreign financiers from China’s Evergrande debacle.
  • The DJI Average lost 51 points to stay below the 34,000 level whilst the Nasdaq eked out a 32 point gain.
  • On the local front, we saw some bargain hunting activities although investors were still wary of external factors.
  • The FBM KLCI seems to be quite well supported at the 1,520 level hence we reckon accumulation of stocks to persist on dips.
  • For today, we expect the index to possibly trend within the 1,525-1,535 range as we expect foreign funds inflow to continue.
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Daily Market Report (21 Sept 2021)
Daily Market Report (21 Sept 2021)
  • Wall Street tumbled as traders switched on their selling mode ahead of the Federal Reserves meeting today plus the troubled China property market.
  • The DJI Average lost 660 points to below the 34,000 level while the Nasdaq saw an even steeper decline by 330 points or 2.2%.
  • The local bourse was not spared either impacted by regional weaknesses as selling reverberated across the region.
  • The FBM KLCI broke several support levels as it closed below the 1,530 mark.
  • As market undertone remains jittery, we reckon trading to stay cautious today.
  • Though bargain hunting may prevail, we believe trading on the local bourse to be tepid amid the heightened market volatility hence we expect the index to trend within the 1,520-1,530 range today.
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Daily Market Report (20 Sept 2021)
Daily Market Report (20 Sept 2021)
  • Wall Street weakened on the back of increasing Covid cases in the US coupled with traders’ anticipation of the Federal Reserves’ tapering on bond buying ahead of its meeting tomorrow.
  • The DJI Average lost 166 points to below the 34,600 level whilst the Nasdaq declined by 138 points to almost the 15,000 mark.
  • As for the local bourse, recent correction has been steep as the FBM KLCI lost around 3% from its recent high exacerbated by news of windfall taxes and waiving of interest.
  • Therefore, we reckon sentiments to remain dampened until more clarity surfaces.
  • Nonetheless, we believe bargain hunting may emerge as the country’s economy is slowly reopening amid Covid cases had declined to a 2-month low.
  • As we enter the 4Q, one can expect some portfolio realignments and window dressing activities to occur.
  • For today, we anticipate the index to trend around the 1,550-1,560 range.
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