Market Reports

Daily Market Report (9 Nov 2020)
Daily Market Report (9 Nov 2020)
  • Stocks are set for a good showing today as positive knee jerk reaction towards President elect Joe Biden and most importantly the ouster of Trump.
  • As the US futures are currently trading at almost 300 points higher, we expect regional markets to react positively as well.
  • At the local front, the FBM KLCI having surpassed the 1,500 level rather convincingly, we reckon the index to continue with its uptrend further with the 1,530 as the immediate target thereafter to challenge the 1,550 mark.
  • Meanwhile, we noticed that the crude palm oil price remains resilient at above the RM3,300/mt thus should have positive effect on plantation stocks.
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Daily Market Report (6 Nov 2020)
Daily Market Report (6 Nov 2020)
  • Wall Street continued its rally as the US election results draws near as markets are pricing in Biden victory. US futures were higher today with news on Federal Reserve expected to hold rates steady and highlight that more fiscal support and stimulus are needed.
  • Regional markets are expected to continue with the positive sentiment taking cue from bullish US markets yesterday.
  • On our local market, yesterday saw broad based pre-budget rally with our KLCI back above 1,500 and we expect follow through buying today.
  • Hence, investors should take positions for trading opportunities as crude palm oil price above at RM3,200 level, plantation stocks will be prime beneficiary while healthcare related, personal protective equipment (such as mask) related stocks will also be in focus as more places are on CMCO with Covid-19 numbers continues to be high.  

 

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Daily Market Report (5 Nov 2020)
Daily Market Report (5 Nov 2020)
  • Wall Street experienced wild swings in prices amid the ongoing US Presidential results that may lead to the Supreme Court as Trump is staring at a defeat.
  • The DJI Average which touched 28,300 at one point finally settled at the 27,800 level or 370 points higher.
  • As such, we can expect some volatility within the regional markets today.
  • As for the local bourse which is more detach from Wall Street, we reckon the FBM KLCI may again test the 1,470 level today to emerge from prevailing consolidation.
  • Meanwhile, have a look at the plantation stocks as CPO prices have been on an uptrend at around the RM3,300/mt of late.
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Daily Market Report (4 Nov 2020)
Daily Market Report (4 Nov 2020)
  • Traders are betting on a clear winner for the latest US Presidential election as the DJI Average gained by more than 550 points to end at almost the 27,500 mark.
  • Nonetheless, the delay in Ant’s IPO on the Shanghai and Hong Kong exchanges may see some caution emerging in Asia’s largest markets thus may cascade to the regional bourses.
  • Meanwhile, on the local front the FBM KLCI has been finding it hard to break out from its consolidation hence we expect it to hover around the 1,470/75 region today amid the rising Covid-19 cases where the authorities may need to relook at the prevailing SOP.
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Daily Market Report (3 Nov 2020)
Daily Market Report (3 Nov 2020)
  • US stocks rebounded ahead of the Presidential election today.
  • The DJI Average jumped by more than 400 points to edge closer towards the 27,000 mark. In view of this, we believe regional markets to maintain with their uptrend.
  • Locally, we expect the FBM KLCI to stage a rebound today after some weaknesses over the last few days.
  • Therefore, we foresee buyers to emerge with the benchmark index to possibly test the 1,490 level today.
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