Market Reports

Daily Market Report (26 October 2022)
Daily Market Report (26 October 2022)
  • Wall Street trended higher on hopes that the Federal Reserves will be less aggressive in raising rates from signs that the US economy is cooling down.
  • The DJI Average jumped by 337 points while the Nasdaq added 246 points as the US 10-year yield eased to 4.10%.
  • On the local front, the FBM KLCI fell marginally after a week of strong performance.
  • We reckon the index to rebound today following solid signs from Wall Street and expect it to trend between the 1,440-1,455 range today.
  • Buying interests is anticipated to return on Technology related stocks amid the falling US yields.
  • Meanwhile, a weaker USD saw the Brent crude closing higher at above the USD93/barrel mark.
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Daily Market Report (25 October 2022)
Daily Market Report (25 October 2022)
  • Wall Street continued with its uptrend on expectations that the Federal Reserves may be less aggressive in hiking rates.
  • The DJI Average rose by 417 points while the Nasdaq added 93 points as the US 10-year yield inched higher to almost 4.25%.
  • As for the local bourse, we reckon the FBM KLCI to trend within a narrow range today with some buying support especially from the local institutions following a rather mixed performance from the regional markets yesterday.
  • Therefore, we expect the index to hover between the 1,440-1,455 range today with interests to center on the Telco and Plantation stocks.
  • Technology stocks could also be in focus as well as many are also waiting for the earnings report from major Tech companies in the US.
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Daily Market Report (21 October 2022)
Daily Market Report (21 October 2022)
  • Wall Street ended in negative territory following another choppy session as the US 10-year yield edged to another high of 4.23%.
  • The DJI Average declined by 90 points while the Nasdaq lost 66 points.
  • Back home, the FBM KLCI continued to climb especially after the GE15 date was announced.
  • The benchmark index had recovered by more than 60 points or by more than 4% over the past week due to support from the local institutions.
  • Though sentiment remains cautious, we reckon buying to persists hence expect the index to trend between the 1,430-1,450 range today with buying to center on the Telcos and Banks again.
  • Nonetheless, we believe broad sentiment may be spooked by the high US 10-year yield which could force Bank Negara Malaysia to hike interest rate during the Monetary Policy Committee (MPC) meeting in early November to arrest the Ringgit’s slide against the USD.
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Daily Market Report (20 October 2022)
Daily Market Report (20 October 2022)
  • Wall Street retreated after another choppy session as the US 10-year yield ended at a multi-year high to almost the 4.14% level.
  • The DJI Average lost 100 points while the Nasdaq declined by 92 points.
  • On the home front, the FBM KLCI continued with its uptrend for the third consecutive day attributed to buying support from foreign funds.
  • Nonetheless, we reckon trading on the local bourse to be lacklustre today impacted by the surging rates in the US.
  • As such, we expect the benchmark index to trend between the 1,395-1,420 as the Technology stocks may see some selling today.
  • Meanwhile, crude palm oil remained above the RM4,000/tonne due to lower output from bad weather while the Brent crude price rebounded to above the USD92/barrel.
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Daily Market Report (19 October 2022)
Daily Market Report (19 October 2022)
  • Wall Street extended its uptrend underpinned by another sets of solid earnings from Goldman Sachs and Lockheed Martin amid a choppy session.
  • The DJI Average rose 338 points while the Nasdaq gained 97 points as the US 10-year yield edged higher to almost the 4.01% level.
  • Back home, the FBM KLCI finally touched the 1,400 mark attributed to buying support on Telcos and Plantation stocks.
  • Buying interests on plantation counters returned as the crude palm oil price climbed above the RM4,000/tonne.
  • For today, we reckon buying to persists possibly on the Banks following some selling yesterday thus expect the index to hover between the 1,390-1,410 range.
  • Meanwhile, Oil & Gas stocks may see some headwinds today, as the Brent crude continued to slip to around USD90/barrel on concerns of higher supply and global recession.
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