Market Reports

Daily Market Report (26 Oct 2020)
Daily Market Report (26 Oct 2020)
  • Covid-19 is set to dominate trading activities as the world is experiencing a spike in numbers as traders were sidelined on Wall Street.
  • The DJI Average closed flat at around the 28,300 level whilst the futures has weakened by more than 100 points at time of writing.
  • Hence, we believe regional markets to be mixed but the local bourse should see some rebound today.
  • We expect the FBM KLCI to trend higher today as many heaved a sigh of relief with the proposed emergency has been averted.
  • As such, we expect the FBM KLCI to trend above the 1,500 mark today but may be limited by regional volatility.
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Daily Market Report (23 Oct 2020)
Daily Market Report (23 Oct 2020)
  • Volatility on Wall Street continues as dictated by the still unfinalized stimulus package.
  • Hopes for the stimuli has “yo-yo” over the past few weeks with the latest that an agreement should be finalised soon.
  • As such, the DJI Average added 153 points to inch towards the 28,400 level from the day’s low of around the 28,000 mark.
  • Therefore, we reckon regional markets to see slight improvements following a weak performance yesterday.
  • On the local front, we believe the FBM KLCI breach the 1,500 level with 1,510 being the immediate resistance today buoyed by glove counters on the back of the surging Covid-19 cases globally of late.
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Daily Market Report (22 Oct 2020)
Daily Market Report (22 Oct 2020)
  • US markets remained volatile as the discussions on the stimulus plans continues while the election in the final leg. Dow Jones, S&P and Nasdaq were marginally lower after moving between positive and negative territory.
  • US futures remained lower hence regional markets sentiment is likely to be cautious on the weakness in US markets.
  • Back to our local market, we expect bargain hunting to bring the KLCI back to the 1,500 level. Hence, we advocate investorsto buy the dips and position themselves and focus on the healthcare, glove, mask PPE related stocks and small mid cap stocks.

  

 

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Daily Market Report (21 Oct 2020)
Daily Market Report (21 Oct 2020)
  • Though Wall Street closed higher on optimism of an imminent stimulus package, volatility still reigned over trading activities as main indices all closed off their daily highs.
  • The DJI Average closed 113 points higher at 28,300 off its day high of almost the 28,600 mark. In view of this, we reckon regional markets to remain mixed today.
  • As for the local bourse, we believe the FBM KLCI to possibly stage a rebound today following yesterday’s late selling activities.
  • We reckon market undertone to remain positive on the back of the surge in retail participation of late. Therefore, the benchmark index is seen to hover within the 1,515-1,520 range today.

 

 

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Daily Market Report (20 Oct 2020)
Daily Market Report (20 Oct 2020)
  • US markets closed lower on the stimulus plans uncertainty as the election date draws near, notwithstanding stronger economic numbers from China.
  • However, Dow Jones Futures has rebounded hence regional markets sentiment should improve from overnight weakness in US markets on the more upbeat China’s economic numbers.
  • On our local front, we expect continued interest in the broader market as trading volume continue to improve as gloves, mask and healthcare related stocks would still be in focus as our Covid-19 numbers continues to rise and more people work from home.
  • Hence, we advocate investors to take positions and ride the trend.
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