Market Reports

Daily Market Report (12 March 2021)
Daily Market Report (12 March 2021)
  • US equities continued with their record breaking run as Biden signed the US$1.9 trillion relief package. With sentiments riding high, the DJI Average was up 190 points to almost the 32,500 mark.
  • As such, we believe regional markets will continue with their positive performances as per yesterday’s.
  • Back home, we were quite surprised by the decline of the FBM KLCI due to profit taking activities. Nonetheless, we reckon bargain hunting to emerge today thus the benchmark index is expected to reverse yesterday’s losses and trend around the 1,635/40 level.
  • Meanwhile, the Brent crude had again closed in the US$70/barrel level whilst the crude palm oil (CPO) remains firmly above the RM4,000/metric tonne.
Download
Daily Market Report (11 March 2021)
Daily Market Report (11 March 2021)
  • Easing bond yields coupled with a new stimulus package boosted buying on US equities as the DJI Average closed on a new record high after gaining more than 460 points at almost the 32,300 level.
  • However, the Nasdaq was flat as profit taking crept in. On the domestic front, we believe the FBM KLCI to continue with its impressive performance which gained 2.5% since the start of the week.
  • Barring any profit taking on the glove stocks, we expect the benchmark index to potentially test the 1,650 mark supported by broad based buying.
  • Meanwhile, we noticed plantation stocks were again largely ignored by the investing community amid the crude palm oil (CPO) price staying above the RM4,000/metric tonne as seen from the performance of the Plantation index which declined 1.5% since the beginning of this year.
Download
Daily Market Report (10 March 2021)
Daily Market Report (10 March 2021)
  • Easing bond yields have had investors back with a vengeance as US equities recovered all round.
  • Though the DJI Average closed off its record high at above the 32,000 mark, the Nasdaq surged by 3.6% following a spate of profit taking activities over the last few days.
  • In view of this, we believe regional markets to see improved performances all round today. As for the local bourse, we reckon the ongoing uptrend to continue after a much needed improvement yesterday.
  • Hence, we expect the FBM KLCI to possibly test the 1,635 level today with interests to centre on the laggards especially the plantations stocks.
  • If yesterday’s price surge in MSM Holdings Bhd was due to higher commodity price, then why are we not seeing the same for Crude Palm Oil (CPO) players? CPO has again broken the RM4,000/metric tonne level yesterday.
Download
Daily Market Report (9 March 2021)
Daily Market Report (9 March 2021)
  • Wall Street is at a crossroad now as traders rejoice on the US$1.9 trillion stimulus package whilst keeping an eye on the higher bond rates.
  • As such, US equities closed mixed as the DJI Average ended off its record high at around the 31,800 mark, up 306 points while the Nasdaq slumped 311 points.
  • Meanwhile, regional markets are expected to remain mixed following yesterday’s rather unexpected decline.
  • On the local front, we expect bargain hunting to continue although market undertone is still cautious. Signs of positive foreign fund flows of late could be due to the attractive valuations that the local bourse is trading at the moment.
  • Therefore, we reckon the FBM KLCI to possibly test the 1,615/20 levels today after a brief encounter yesterday. Plantation players which were largely ignored despite the solid Crude Palm Oil (CPO) prices so far may see some buying interests going forward.
Download
Daily Market Report (8 March 2021)
Daily Market Report (8 March 2021)
  • US equities rebounded sharply following a better than expected job data as treasury yield eased. All three major indices ended in positive territory after a wild session as the DJI Average gained 570 points after losing 150 points at one point.
  • Meanwhile, with the US$1.9 trillion relief package gainning traction over the weekend, we reckon regional markets will trend higher today.
  • On the local front, the FBM KLCI which broke the 1,600 mark last Friday should trend higher as we anticipate the index to hover around the 1,610/20 range today from broad based buying.
  • Crude oil prices continued with its solid run with the Brent crude as expected has surpassed the US$70/barrel level which should put O&G stocks in the limelight today.
Download