Market Reports

Daily Market Report (22 July 2021)
Daily Market Report (22 July 2021)
  • Wall Street’s recovery continued as sentiments were buoyed by the better than expected earnings with inflationary fears are now largely being ignored for now.
  • The DJI Average jumped by 286 points to closed at almost the 34,800 level while the Nasdaq gained 133 points to breach the 14,600 mark.
  • Though, we believe regional markets may take cue from the US market, surging Covid-19 cases within the region will continue to hamper any solid buying thus foresee another day of mixed performances.
  • On the local front, we reckon the FBM KLCI performance to remain lackluster amid the unrelenting local Covid-19 cases.
  • Though there were improvements in the overall market volume, sentiments is expected to be cautious hence the index is seen to trend around the 1,510-1,520 today.
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Daily Market Report (21 July 2021)
Daily Market Report (21 July 2021)
  • Wall Street rebounded following a sell-off on Monday as bargain hunting activities emerged despite the concerns of a resurgence in global Covid-19 cases.
  • The DJI Average surged by almost 550 points to above the 34,500 mark while the Nasdaq jumped by 224 points to around the 14,500 level.
  • Therefore, we expect to see some bargain hunting amongst the regional markets today however sentiments should be mixed amid the heightened volatility.
  • Back home, the performance of the FBM KLCI has been jittery amid the lingering weak market undertone.
  • With market participation still muted, we continue to see the local bourse to trend within a narrow range in the absence of sustained buying from the foreign funds.
  • For today, we expect the index to trend around the 1,515-1,525 range.
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Daily Market Report (19 July 2021)
Daily Market Report (19 July 2021)
  • Fears of inflationary pressure overshadowed better than expected earnings and economic data as US equities all ended in negative territory.
  • The DJI Average lost 300 points to close around the 34,700 level while both the Nasdaq and S&P 500 were 116 points and 33 points lower respectively.
  • As some countries are opening up their economies many are concern that a new phase of Covid infection may occur.
  • Meanwhile, we reckon regional markets to be mixed today as the pandemic are still ravaging the region’s economies.
  • In Malaysia, the lifting of EMCO in many parts of Selangor and Kuala Lumpur may be positive news but uncertainties are still evident amid the high Covid cases.
  • Thus, we believe trading activities on the local bourse to remain muted and expect the FBM KLCI to trend within the 1,515-1,525 range as the market will be closed for Hari Raya Adiladha tomorrow.
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Daily Market Report (16 July 2021)
Daily Market Report (16 July 2021)
  • Wall Street closed mixed despite earnings beating expectations as sentiments remain cautious on the market’s lofty valuations.In addition, there are also concerns that the easy money will eventually evaporate in view of the increasing inflation.
  • The DJI Average gained 54 points to almost the 35,000 mark while both the S&P 500 and Nasdaq closed lower.
  • As a result, regional markets are expected to be mixed today.
  • As for the local bourse, the FBM KLCI uptrend was rather surprising yesterday due to the emergence of buying support from the local institutions.With Covid-19 cases registered another record high yesterday, we reckon sentiments to remain jittery thus may see some weaknesses today.
  • As for the FBM KLCI, we expect the index to hover around the 1,515-1,525 range today.
  • Meanwhile, keep an eye on the crude palm oil (CPO) movements as prices are rebounding since the low in mid-June.
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Daily Market Report (15 July 2021)
Daily Market Report (15 July 2021)
  • US equities were mixed as traders began digesting statements from Federal Reserves chairman regarding prevailing easing policy amid increasing inflation.
  • As such, sentiments became cautious as the DJI Average closed 44 points higher at almost the 35,000 mark while the Nasdaq eased 33 points following a solid opening.
  • Therefore, we expect regional markets to continue to be mixed with the increasing volatility on Wall Street.
  • On the domestic front, the FBM KLCI saw some profit taking as market activities continued to be muted.
  • For today, we anticipate the index to experience some weaknesses as many expect the current lockdown to be extended with Covid-19 cases still surging to record highs.
  • Thus, the index is anticipated to possibly test the 1,510 today hovering within the 1,505-1,515 today.
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