Market Reports

Daily Market Report (6 May 2021)
Daily Market Report (6 May 2021)
  • Wall Street closed higher as traders buoyed by economic optimism on the back of more solid corporate earnings.
  • The DJI Average gained 97 points to closed at 34,230 whilst the Nasdaq continue with their slump by 51 points at around 13,580.
  • As volatility heightened, we reckon regional markets to be rather muted today.
  • On the home front, we believe the FBM KLCI to stay stuck in its consolidation mode and to hover within a narrow range of 1,570-1,580 albeit some bargain hunting activities today.
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Daily Market Report (5 May 2021)
Daily Market Report (5 May 2021)
  • US equities were broadly lower as traders took opportunity to profit take as many deem Wall Street valuations to be on the high side.
  • Whilst the DJI Average gained 20 points to close at around the 34,133 level, tech stocks bore the brunt of the selling with the Nasdaq declined 261 points.
  • As such, we reckon regional markets to be mixed today amid the spike up in Covid-19 cases.
  • On the domestic front, we expect the FBM KLCI to remain stuck in its ongoing correction and anticipate the index to hover around the 1,580-1,590 range due to the absence of buying catalysts.
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Daily Market Report (4 May 2021)
Daily Market Report (4 May 2021)
  • US equities surged on hopes of an earlier reopening of economic activities in the US.
  • As such, the DJI Average jumped 238 points to close above the 34,000 level again.
  • In view of this, we believe regional markets to potentially trend higher today following yesterday’s muted activities.
  • On the local bourse, the FBM KLCI is expected to continue with its consolidation.
  • The index is seen to hover around the 1,585-1,595 range today with anticipations of some bargain hunting activities.
  • Meanwhile, the crude palm oil prices ended April on a high averaging at RM4,220/metric tonne.
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Daily Market Report (3 May 2021)
Daily Market Report (3 May 2021)
  • Wall Street took a breather as traders decided to lock in some profits following a solid run for the month of April.
  • The DJI Average lost 185 points to close below the 34,000 whilst the Nasdaq declined 120 points to end at below the 14,000.
  • Therefore, we reckon regional markets to remain weak today from the lack of fresh catalysts.
  • On the home front, the FBM KLCI is expected to continue with its consolidation hence expect the index to trend around 1,600-1,610 range today.
  • Judging by the continuous fund flow from the retail portion, we believe retail participation to improve thus the smaller caps companies to continue with their rotational play.
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Daily Market Report (30 April 2021)
Daily Market Report (30 April 2021)
  • Wall Street surged buoyed by solid corporate earnings for the 1Q2021 as the broader S&P 500 closed on a record high at above the 4,200 level while the DJI Average jumped by almost 240 points to above the 34,000 again.
  • Therefore, we reckon regional markets to maintain with their robust performance today. Back home, we can expect the local bourse to play some catch up following yesterday’s closure.
  • As such, we believe the FBM KLCI to possibly trend above the 1,610 today ranging within the 1,610-1,620. Nonetheless, we believe any buying may be muted as market sentiments remain fragile.
  • Meanwhile, crude oil price further improves with the Brent crude hovering near the US$69/barrel due to improving demand outlook.
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