Market Reports

Daily Market Report - 22 June 2021
Daily Market Report - 22 June 2021
  • US equities recouped most of last Friday’s steep decline as traders returned with a vengeance on solid bargain hunting activities.
  • Despite the outlook remains unchanged, the buying pushed the DJI Average 590 points higher to close at almost the 33,900 mark.
  • On the back of this, we believe regional markets to improve today following a dismal performance yesterday.
  • On the local front, we should expect a rebound today as well and anticipate the FBM KLCI trend higher within the 1,575-1,585 range.
  • Meanwhile, the uptrend of the Brent crude price has been rather relentless as it is hovering around the US$75/barrel currently.
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Daily Market Report (21 June 2021)
Daily Market Report (21 June 2021)
  • Wall Street slumped as traders switched on their selling mode fearing the Federal Reserves may raise interest rates sooner than anticipated.
  • The DJI Average saw a 500 point decline to end at around the 33,300 mark while the Nasdaq lost 131 points to close just above the 14,000 level.
  • As such, we reckon regional markets to turn jittery and see broad weakness today.
  • As for the local bourse, we expect some profit taking to take place today following a strong late buying spree last Friday.
  • Therefore, with the expected regional downtrend, we believe the FBM KLCI to see some downtrend and hover within a range of between 1,570-1,580 today.
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Daily Market Report (18 June 2021)
Daily Market Report (18 June 2021)
  • Wall Street were mixed on the back of the Federal Reserves recent timeline on rates hike.
  • Though the DJI Average declined 210 points to around the 33,800 level, tech heavy Nasdaq jumped by 122 points to 14,161 as traders believe there is still some upside in the short term.
  • As market volatility heightens, we believe regional markets will continue to be mixed over the immediate term.
  • Back home, the FBM KLCI retreated after a promising start as investors became uneasy over the time frame as to when the Parliament will reconvene.
  • As such, we reckon the index to remain stuck within a range of 1,565-1,575 today from the absence of clear buying catalysts.
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Daily Market Report (17 June 2021)
Daily Market Report (17 June 2021)
  • Wall Street slumped as the Federal Reserves had indicated that interest rates will be increased sooner rather than later.
  • As a result, the DJI Average declined 266 points to just above the 34,000 mark.
  • With market volatility to heighten, we reckon regional markets to stay cautious though we expect foreign funds may start to flow into Asian markets eventually.
  • Domestically, the FBM KLCI should be steadier as the Parliament is expected to reconvene soon as recommended by the Yang di-Pertuan Agong.
  • Therefore, we anticipate the index to possibly trend above the 1,580 mark and hover between the 1,585-1,590 range today.
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Daily Market Report (16 June 2021)
Daily Market Report (16 June 2021)
  • Wall Street closed lower as traders became jittery over the possible outcome from the ongoing Federal Reserves policy meeting.
  • The tech heavy Nasdaq dropped 101 points at 14,700 level while the DJI Average ended 94 points lower at the 34,300 mark.
  • With expectation that interest rates may increase, we reckon regional market will continue to be mixed and weaker today.
  • On the local front, the FBM KLCI saw some buying support from the foreign funds in late trading hours and we would expect the index to again hover within a tight trading range with some upside of around the 1,580-1590 range today.
  • Meanwhile, the Brent crude oil price remains resilient at US$74/barrel.
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