Market Reports

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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Daily Market Report (01 Oct 2020)
Daily Market Report (01 Oct 2020)
  • Wall Street ended higher amid some volatility as the authorities are still trashing out the potential pandemic stimulus package in the US. The DJI Average gained almost 330 points to close just below the 27,800 level.
  • In view of a more positive opening of the DJI futures, we reckon regional markets to trend higher today following a rather listless performance yesterday.
  • As for the local bourse, we expect the FBM KLCI test the 1,510 mark after a few close calls yesterday. Based on our seasonal readings, 4Q is usually a better period for equities than the 3Q.
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Daily Market Report (30 Sept 2020)
Daily Market Report (30 Sept 2020)
  • Wall Street succumbed to fears over a possible second Covid-19 wave. The DJI Average lost 131 points to close around the 27,450 level.
  • In view of this, we expect regional market to be volatile today with some downside bias.
  • On the local front, we expect the FBM KLCI to remain weak although buying interests to re-emerge on the pandemic related stocks.
  • Apart from the obvious glove related companies, we like Scomnet, Dnonce and AHB to name a few.
  • Therefore, we reckon the benchmark index to stay above the 1,500 mark with a possibility to test the 1,510 today.
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