Market Reports

Daily Market Report (13 August 2021)
Daily Market Report (13 August 2021)
  • US equities ended on positive territory following a volatile session.
  • All major indices opened steeply lower but were propped up by some rotational buying activities late in the session.
  • The DJI Average was up 15 points inching towards the 35,500 level whilst the Nasdaq recovered to above the 14,800 mark, up 51 points.
  • As for the local bourse, fresh developments on the political front may suppress trading today as sentiments is expected to remain cautious.
  • With politics again dominating the investment climate, we reckon the FBM KLCI to encounter some selling pressure today.
  • As such, we expect the index to trend around the 1,495-1,505 range today.
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Daily Market Report (12 August 2021)
Daily Market Report (12 August 2021)
  • Wall Street closed mostly higher as inflation came in lower than expected.
  • Both the DJI Average and S&P 500 notched record high closing while the Nasdaq lost ground on bouts of profit takings.
  • Nonetheless, traders are concern that inflationary pressure may have already been priced in as the futures of all three major indices are currently flat.
  • Therefore, we anticipate trading amongst the regional markets to remain mixed today.
  • Domestically, the FBM KLCI finally broke the 1,500 mark and we expect the index to stay above the 1,500 level today.
  • Meanwhile, many are waiting for the purported reopening of the economy and are eagerly waiting for directives from the government.
  • For today, we expect the index to hover within the 1,500-1,510 range.
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Daily Market Report (9 August 2021)
Daily Market Report (9 August 2021)
  • Wall Street closed rather mixed on better-than-expected job data amid the increasing cases of Covid-19 cases.
  • The DJI Average gained 144 points to a record high above 35,200 while the Nasdaq was 59 points lower as the US 10-year yield trended above the 1.3%.
  • Meanwhile back home, the FBM KLCI which closed weaker last Friday is expected to see some strength today in view of the staggered easing of the domestic economy.
  • The Prime Minister is to announce the relaxation soon in particular for those that have had full dosage of vaccination.
  • Therefore, we anticipate the index to trend higher and hover within the 1,490-1,500 range today.
  • Nonetheless, we believe trading to remain muted as the market will be closed for Awal Muharram tomorrow.
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Daily Market Report (6 August 2021)
Daily Market Report (6 August 2021)
  • Wall Street rebounded sharply ahead of a crucial job data today, as traders are seeing that the employment data is well below the desired level thus may prompt the Federal Reserves to continue with monetary easing.
  • The DJI Average rose 270 points to surged above the 35,000 mark again while the S&P 500 added 26 points to close at a record high at near the 4,430 level.
  • As such, we reckon regional markets to perform better today after yesterday’s mixed performance.
  • On the home front, the FBM FLCI defied gravity to close higher yesterday possibly due to hopes of an economic reopening soon.
  • The Government has reiterated that they will no longer look at the daily infections to ease prevailing curbs as we are entering into Phase 2 of the national recovery plan.
  • As such, we believe this will spur some buying momentum for the local bourse thus the index may look to breach the 1,500 mark and anticipate it to trend within the 1,500-1,510 range today.
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Daily Market Report (5 August 2021)
Daily Market Report (5 August 2021)
  • It was another mixed day on Wall Street on the back of a lower-than-expected job data with traders becoming more concern that the recent economic rebound may have peaked.
  • The DJI Average closed 324 points lower to below the 34,800 level while the Nasdaq added 19 points to close at 14,780. 
  • In tandem with this, we believe regional markets will be mixed today following a decent performance yesterday.
  • As for the local bourse, there was damage limitation from buying support by the local institutions.
  • However, the trading range of the FBM KLCI has widened indicating heightened volatility.
  • Notwithstanding this, as both the political and Covid landscapes remain undesirable, selling from foreign funds is expected to continue thus the index is set to experience some pressure today and is expected to trend around the 1,485-1,495 range.
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