Market Reports

Daily Market Report (8 Oct 2020)
Daily Market Report (8 Oct 2020)
  • Wall Street yet again was dictated by Trump’s tweet as he backtracked and urged a swift approval for the US stimulus package.
  • As a result, the DJI Average jumped by a massive 530 points surging past the 28,000 mark at 28,300.
  • Therefore, we reckon regional markets to be broadly firmer today. On the domestic front, the FBM KLCI should reverse its losses yesterday following some last-minute selling.
  • We believe the benchmark index to trend above the 1,500 level possibly to around the 1,505/10 range today.
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Daily Market Report (07 Oct 2020)
Daily Market Report (07 Oct 2020)
  • Wall Street was trashed by a tweet as Trump threw a tantrum and call off negotiation of the highly anticipated stimulus package.
  • As a result, all 3 major indices ended the day lower with the DJI Average losing 376 points to end below the 27,800 level.
  • Therefore, we would expect some weakness amongst the regional markets today amid the heightened uncertainty.
  • Locally, late selling activities saw the FBM KLCI to close lower and we reckon investors to stay sidelined today over the uncertainty.
  • As such, the index is seen to trend within the 1,505-1,515 range today.
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Daily Market Report (6 Oct 2020)
Daily Market Report (6 Oct 2020)
  • Wall Street closed broadly higher on news that a stimulus package should be finalised sooner than later coupled with Trump’s release from the hospital.
  • As a result, the DJI Average gained 466 points surging pass the 28,000 mark. For today, we expect regional markets to trend higher following yesterday’s solid performance.
  • On the local front, the FBM KLCI buoyed by yesterday’s late buying should see more upside today to potentially testing the 1,520/30 range.
  • Meanwhile, after a prolonged consolidation amongst the lower liners, we detected liquidity is returning on these stocks hence we advise investors to take advantage of the prevailing low levels.
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Daily Market Report (5 Oct 2020)
Daily Market Report (5 Oct 2020)
  • Concerns over the worsening pandemic and Trump’s health sent Wall Street reeling as sellers swamped trading activities.
  • However, news of an impending stimulus package saw some late buying as the DJI Average closed off lows as it lost 134 points at 27,682.
  • As such, we reckon regional markets to be steadier today following a mixed session last Friday.
  • On the local front, we expect the FBM KLCI to continue with its uptrend as we saw some late buying to push the benchmark index above the 1,500 level.
  • In view of this, we expect the index to trend within the 1,500-1,510 range today.

 

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Daily Market Report (2 Oct 2020)
Daily Market Report (2 Oct 2020)
  • Wall Street was mixed as the authorities failed to finalise the stimulus package as many had hope for.
  • Though the DJI Average closed flat at 27,817 up a mere 35 points, tech heavy Nasdaq jumped by 159 points to almost the 11,130 mark.
  • In view of this, we expect regional markets to be rather mixed today with the lack of fresh leads.
  • Locally, the FBM KLCI which succumbed to some selling pressure due to the uncertainty on the political front and rising Covid-19 cases is expected to be listless today.
  • We reckon the index to possibly trend within the 1,500/1,510 range today.

 

 

 

 

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