Market Reports

Daily Market Report (3 June 2021)
Daily Market Report (3 June 2021)
  • Wall Street were stagnant as traders are looking ahead of job report this Friday.
  • Nonetheless, all 3 major indices closed firmer with the S&P 500 hovering close to its record high. The DJI Average was up 25 points at 34,600.
  • As trading on Wall Street remains muted, we reckon trading on the regional markets to be mixed today.
  • Back home, the FBM KLCI performed credibly by closing above the 1,595 level.
  • Hence, today we believe the index should test the 1,600 mark and trend within the 1,595-1,605 range today.
  • Meanwhile, the Brent crude oil price continues to increase above the US$71/barrel.
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Daily Market Report (2 June 2021)
Daily Market Report (2 June 2021)
  • US equities were flat as optimism over the reopening of the economy was hit by inflationary concerns.
  • Meanwhile, the US 10-year Treasury yield hit the 1.6% again.
  • Regional markets continued with the uptrend yesterday and we expect this to continue today as we believe foreign funds are trickling into Asia.
  • As for the local bourse, though the FBM KLCI was flat, we notice foreign funds again were net buyers yesterday.
  • Therefore, we expect the index to trend within 1,585-1,595 range today.
  • As for the Brent crude, it broke the US$70/barrel.
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Daily Market Report (1 June 2021)
Daily Market Report (1 June 2021)
  • Wall Street was closed for Memorial Day yesterday and a look at its futures are showing flattish trading ahead.
  • As such, we reckon trading for regional markets to remain rather mixed today.
  • On the home front, following a knee jerk reaction yesterday due to a full lockdown, we believe there should be a rebound today.
  • Thus, we expect the FBM KLCI to possibly trend within the 1,590-1,600 range today.
  • It is also interesting to note that foreign funds remain as net buyers on the local equities over the past week.
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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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