Market Reports

Daily Market Report (15 Jan 2021)
Daily Market Report (15 Jan 2021)
  • Wall Street retreated as traders stay sidelined awaiting for more details on the latest US relief package.
  • As such, the DJI Average declined 69 points to close just below the 31,000 level whilst the Nasdaq also declined to end below its record high. We reckon regional markets to be steadier today following the after market unveiling of the US$1.9 trillion stimulus package.
  • On the local front, we expect the FBM KLCI to trend higher today potentially challenging the 1,645 level supported by fresh inflow of foreign funds.
  • Meanwhile, Brent crude price rebounded to above the US$56/barrel again putting hopes on some trading interests for the Oil & Gas counters again. Tech stocks will continue to attract interests and would advise investors to look at the laggards.
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Daily Market Report (14 Jan 2021)
Daily Market Report (14 Jan 2021)
  • Wall Street were mixed amid recent record run as traders remain sidelined. The DJI Average closed flat at 30,060 with the tech heavy Nasdaq closed 56 points higher at almost the 13,130 mark.
  • As a result, we reckon regional markets to continue to be mixed. Domestically, we expect the FBM KLCI to trend at a narrow range along the 1,630/40 range today due to the lack of catalysts.
  • Yesterday’s strong buying on banks stocks could be a sign that foreign funds may be trickling into the local bourse following an inflow of around RM750m since 7th January.
  • Meanwhile, we remain positive on heighten trading activities amongst the smaller caps today.

 

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Daily Market Report (13 Jan 2021)
Daily Market Report (13 Jan 2021)
  • US equities closed rather flattish as traders were pondering on new stimulus relief amid the political turmoil. The DJI Average climbed 60 points to end at around the 31,070 mark.
  • Therefore, we believe regional markets to continue to be mixed. Locally, the FBM KLCI is seen to stabilise today following some panic selling yesterday.
  • As some of us are faced with MCO 2.0, we reckon trading activities to improve especially on the smaller caps today. The benchmark index is expected to trend higher today potentially testing the 1,620 level.
  • Meanwhile, supplies cuts have had pushed crude oil prices higher with the Brent crude now hovering at above the USD56/barrel again.
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Daily Market Report (12 Jan 2021)
Daily Market Report (12 Jan 2021)
  • Wall Street closed lower as traders suddenly became wary of the US equities high valuations prompting profit taking activities.
  • As a result, the DJI Average was down by almost 90 points to remain just above the 31,000 mark. Thus, we expect regional markets to see some easing today after a mixed performance yesterday.
  • On the local front, we expect the FBM KLCI to trend lower following announcements of lockdown 2.0 on several states yesterday.
  • As such, we reckon the index to possibly test the 1,610 mark with 1,600 being a more solid support level. Nonetheless, we believe performance of the smaller caps to improve following bouts of corrections over the last few days hence trading volume is seen to improve.

 

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Daily Market Report (11 Jan 2021)
Daily Market Report (11 Jan 2021)
  • US equities closed higher after a volatile session as traders are hopeful of another stimulus package amid the disappointing US job data.
  • The DJI Average edged up 57 points to close at almost the 31,100 mark while the Nasdaq ended the session on a record high at around the 13,200 level. Nonetheless, we expect regional markets to be mixed today in view of the unpredictable Wall Street.
  • Back home, we expect the FBM KLCI to experience some weaknesses today amid the surging Covid-19 cases. Thus, we expect the benchmark index to trend lower today potentially testing the 1,620/25 levels.
  • On a more positive note, crude oil prices continue to climb with the Brent now hovering above the USD56/barrel.
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