Market Reports

Daily Market Report (18 October 2022)
Daily Market Report (18 October 2022)
  • Wall Street staged a strong technical rebound amid solid earnings reported by Bank of America.
  • The DJI Average gained 551 points while the Nasdaq added 354 points as the US 10-year yield eased to below the 3.95% mark.
  • On the local front, the FBM KLCI closed in positive territory attributed to some bargain hunting activities.
  • We reckon the index to maintain its uptrend mirroring the solid gains over on Wall Street overnight.
  • Therefore, we believe the index to hover between the 1,380-1,400 range today and expect buying activities to return to Banks and Technology stocks today.
  • We also expect the Construction sector to be in focus as well with GE15 date looming.
  • Meanwhile, Brent crude closed lower to below USD92/barrel.
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Daily Market Report (17 October 2022)
Daily Market Report (17 October 2022)
  • Wall Street was unable to sustain Thursday’s rebound weighed by profit taking activities as the US 10-year yield broke past the 4.0% level to 4.02%.
  • The DJI Average lost 404 points while the Nasdaq declined by 328 points.
  • In view of the heightened volatility, we expect regional markets to follow suit as we anticipate some selling pressure today.
  • Locally, we reckon the FBM KLCI to remain lacklustre today thus expect the index to trend between the 1,375-1,390 range today.
  • Technology stocks may face some headwinds today judging by the steep fall on Nasdaq last Friday.
  • Meanwhile, the Brent crude eased to below the USD93/barrel on concerns of weakening demand globally.
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Daily Market Report (14 October 2022)
Daily Market Report (14 October 2022)
  • Wall Street staged a dramatic rebound as traders perceived that inflation may have peaked going forward after the CPI for September remained high.
  • Whether this uptrend is sustainable remains to be seen.
  • The DJI Average added a massive 828 points while the Nasdaq gained 232 points as the US 10-year yield inched higher at 3.95%.
  • In view of this, we believe regional markets to strengthen today taking cue from the performance on Wall Street.
  • Therefore, we expect the FBM KLCI to reverse losses over the last few days and trend within the 1,375-1,400 range today.
  • We reckon Technology related stocks to make a comeback today following a steep decline the previous 5 days.
  • Nonetheless, we reckon sentiment is still cautious as foreign funds may still be in a selling mode ahead of the forthcoming GE15.
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Daily Market Report (13 October 2022)
Daily Market Report (13 October 2022)
  • Wall Street closed marginally lower following a choppy session as sentiment remained cautious ahead of the CPI data to be out today.
  • The DJI Average lost 28 points while the Nasdaq declined by 9 points as the US 10-year yield eased slightly to 3.9%.
  • As for the local bourse, the FBM KLCI closed to another YTD low as selling persisted amid the wait for GE15 date.
  • Despite the weak market undertone, we reckon some bargain hunting to emerge anytime soon after 3 days of consecutive declines that saw the index dropped by 40 points.
  • As such, we expect the index to trend within the 1,380-1,400 today with some focus on the Bank and Telco sectors.
  • Meanwhile, the Brent crude fell to around the USD92/barrel on reports of higher inventory.
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Daily Market Report (12 October 2022)
Daily Market Report (12 October 2022)
  • Wall Street closed mixed following a choppy session as traders await for CPI data which is to be out tomorrow.
  • The DJI Average gained 36 points while the Nasdaq lost 116 points as the US 10-year yield edged nearer to the 3.95% mark.
  • Back home, the FBM KLCI declined to a fresh YTD low following the regional downtrend on Monday.
  • We reckon selling to persist on Technology stocks but expect some bargain hunting to emerge today on the index-linked counters.
  • Therefore, we anticipate the index to hover within the 1,385-1,400 range today.
  • Meanwhile the crude palm oil eased to RM3,650/tonne on higher inventory level.
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