Market Reports

Daily Market Report (31 May 2021)
Daily Market Report (31 May 2021)
  • Wall Street closed firmer on optimism that the US economic recovery will be sooner than later.
  • The DJI Average added 65 points to close at 34,530 whilst both the Nasdaq and S&P 500 closed flat.
  • As for the regional markets, we reckon buying activities to persist although on a cautious mode.
  • On the domestic front, late buying on the local bourse continued as the FBM KLCI closed flat at 1,594 despite being in negative territory throughout the day.
  • We noticed foreign funds are slowly trickling in and hopefully this is sustainable.
  • For today, we expect the index to hover within the 1,590-1,600 range today.
  • Meanwhile, both the Brent crude and Crude palm oil are looking good with the CPO to close on the all time highest average for May.
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Daily Market Report (28 May 2021)
Daily Market Report (28 May 2021)
  • US equities improved further on stronger than expected labour data.
  • The DJI Average gained 141 points to close near the 34,500 level.
  • In line with this, we reckon regional markets to perform better today.
  • On the domestic front, the FBM KLCI again experienced some last minute buying which of late has been rather strong.
  • Nonetheless, whether this sustainable remains to be seen. The index is expected to hover within a 1,590-1,600 range today.
  • Meanwhile, the crude oil price is nearing the US$70/barrel again.
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Daily Market Report (27 May 2021)
Daily Market Report (27 May 2021)
  • Trading on Wall Street was muted from the lack of clear buying catalyst.
  • The DJI Average eked a 10.6 point gain to close at 34,323 whilst the Nasdaq added 81 points at 13,738.
  • Due to the absence of buying catalysts, we reckon regional markets to be rather mixed today.
  • Meanwhile on the local front, the FBM KLCI continued with its mini uptrend but may see some profit taking emerge today.
  • Therefore, we expect the index to hover within 1,570-1,580 range today.
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Daily Market Report (25 May 2021)
Daily Market Report (25 May 2021)
  • Wall Street improved overnight in particular technology and recovery theme stocks amid the reopening of the economy soon.
  • The DJI Average jumped by 184 points to 34,400 mark.
  • As market volatility remain, we reckon regional market to be a tad mixed today.
  • On the home front, the FBM KLCI performed rather credibly yesterday amid some bargain hunting activities.
  • Whilst nothing has really changed, we believe the index to trend within a narrow range of 1,565-1,575 range.
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Daily Market Report (24 May 2021)
Daily Market Report (24 May 2021)
  • Spooked by the Bitcoin collapse, US equities especially tech-based closed last week at the low.
  • However, the DJI Average gained 123 points at 34,200 level.
  • Looking at the heightened volatility again, we believe regional performance to be again somehow muted.
  • On the local front, the FBM KLCI has lost around 30 points since early May and we do not see any buying catalysts.
  • Nonetheless, we expect the index to stage a minor rebound and hover between the 1,560-1,570.
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