Daily Market Reports Issued By Rakuten Trade Research : Page 176

Wall Street endured a volatile session last Friday and ended mixed with the DJI Average ended 131 points higher at 27,665 whilst the Nasdaq lost 66 points to close at 10,853.
Nonetheless, the Dow futures are up by more than 150 points at time of writing hence we reckon regional markets to be rather steady today with some upward bias.
Locally, we believe the FBM KLCI to see continued buying support following last week strong closing.
As such, we expect the benchmark index to test the 1,510/15 level today.

Wall Street ended higher as the Feds has pledged to continue assisting the economy depending on the course of the pandemic in the US.
As a result, the DJI Average gained 160 points to close above the 26,500 level on some late buying activities. Hence, we reckon regional markets to be broadly higher today following a few days of consolidation.
On the local front, we expect the FBM KLCI to test another year high today after some solid buying support yesterday.
The benchmark index is seen to test the 1,620-mark following a late rebound due to domestic buying support.

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Wall Street declined as traders became concerned over corporate earnings as well as the impacts on the purported new stimulus package from the Federal Reserves.
As a result, the DJI Average lost 205 points to around the 26,380 level. Meanwhile the US 10-year Treasury rate dipped below the 0.6% to 0.58% which is also a 3-month low.
Regional equities are expected to remain mixed today from the lack of catalysts.
As for the local bourse, following a solid performance yesterday we expect the FBM KLCI to be possibly take a breather today and trend within a tight range of between 1,600-1,610.

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Wall Street started the week firmer with investors again became hopeful of more stimulus from the US Government as the DJI Average gained 115 points to almost the 26,600 mark.
For today, we expect the regional markets to remain mixed in view of the ongoing tension between China and the US.
Locally, the FBM KLCI continues to be well supported from domestic buying and is expected to stay solid with the benchmark index seen to oscillate between the 1,590-1,600 range today.
Meanwhile gold price is set to break the US$2,000/oz level surpassing the previous record in 2011.

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US markets lost ground across all indices with Dow Jones, Nasdaq and S&P500 falling marginally notwithstanding rising tensions between US-China.
Thus far corporate result season for US markets have been decent. Regional markets are likely to see subdued sentiment on the rising gold prices.
Back to our local market, we expect market to remain buoyant with much trading opportunities and investors could look at both Asiapoly (Technical View) and AppAsia (Investment Idea).

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