Market Reports

Daily Market Report (29 Sept 2020)
Daily Market Report (29 Sept 2020)
  • Wall Street started the week on a high on expectations that a stimulus package would be agreed upon soon. The DJI Average climbed 410 points to above the 27,500 mark.
  • Buoyed by the broad based buying, we expect regional markets to maintain their uptrend today.
  • Locally, we expect the FBM KLCI to maintain its ascension as interests on the pandemic related stocks to continue garnering buying interests.
  • Therefore, we reckon the benchmark index to challenge the 1,520 level today hopefully breaking out from its prolonged consolidation mode.
Download
Daily Market Report (28 Sept 2020)
Daily Market Report (28 Sept 2020)
  • US markets rally as investors buy the dip with tech stocks leading the rise as Wall Street attempts to recover from its recent steep correction.
  • Nonetheless, Dow Jones settled above 27,000 level while the Nasdaq is whisker away from 11,000 level and S&P 500 at 3,300 level.
  • Regional markets this week should see positive bias upwards taking cue from US markets.
  • Meanwhile on our local market, it is likely to see follow through buying interest in the glove and healthcare related stocks such as (PPE and face mask) and vaccine stock as the Covid-19 numbers continue to rise globally and locally.
  • Hence, investors should take position to ride the wave of trading opportunities.  
Download
Daily Market Report (25 Sept 2020)
Daily Market Report (25 Sept 2020)
  • Wall Street closed marginally higher as it attempts to stage a strong rebound from its recent correction as news of fresh stimulus plans of US2.4 trillion is back on negotiation albeit at a lower amount.
  • The Dow Jones closed 0.2% higher to 26,763.13 level while the Nasdaq recovered from an early tumble to inch up 0.37% at 10,672.27 while the S&P 500 is up 0.3% to 3,246.59.
  • Regional markets are likely to follow the stronger close in US markets.
  • Back on our local front, KLCI is expected to see positive bias with support level at 1,500 with possible window dressing activities hence investors should bargain hunt and adopt the “buy the dips”.
Download
Daily Market Report (24 Sept 2020)
Daily Market Report (24 Sept 2020)
  • Wall Street resumed its fall led by tech sector after a day of reprieve as the rebound has fizzled out on the rising coronavirus numbers and the stalemate in new stimulus plan.
  • The Dow Jones closed 1.92% lower to 26,763.13 level while the Nasdaq went below the 11,000 level down 3.02% at 10,362.98 while the S&P 500 fell 2.37% to 3,236.92.
  • Regional markets will be under pressure today arising from the weaker US markets.
  • On our local front, yesterday’s govt RM10bn Prihatin stimulus and assistance package is likely to lend support to the KLCI with support level seen at 1,480 and investor should adopt the buy on weakness strategy.   
Download
Daily Market Report (23 Sept 2020)
Daily Market Report (23 Sept 2020)
  • Wall Street staged a technical rebound yesterday as buyers emerged in droves amidst the Feds call to support the US economy indefinitely.
  • The DJI Average gained 140 points to close at almost the 27,300 level while the Nasdaq inched closer to the 11,000 threshold.
  • In view of this, we reckon regional markets to trend higher today after days of decline. Locally, we expect the FBM KLCI to maintain its upward momentum having performed solidly yesterday.
  • Hence, we believe the benchmark index to test the 1,510 mark today after which the 1,520 would be the immediate resistance level.
Download