Market Reports

Daily Market Report (19 September 2022)
Daily Market Report (19 September 2022)
  • Wall Street endured another poor performance as traders became nervous of the Federal Reserves’ rate hike next week coupled with FedEx earnings warning amid global economic weakness.
  • The DJI Average lost 139 points while the Nasdaq declined by 104 points as the US 10-year yield edged higher to 3.455%.
  • As for the local bourse, we reckon trading to remain subdued as the regional markets ended in a sea of red last Friday.
  • Therefore, we believe the FBM KLCI to hover within the 1,460-1,475 range today though some bargain hunting activities may emerge as the index is trending within its support level currently with some interests on the Banks and Technology stocks.
  • Meanwhile, reports on the dissolution of the Parliament soon may shift some interests back on the Construction players as well.
  • As for the Oil & Gas sector, concerns over a global slowdown have seen the Brent crude trending towards the US$91/barrel.
Download
Daily Market Report (15 September 2022)
Daily Market Report (15 September 2022)
  • Wall Street closed modestly higher after a volatile session as traders remained wary ahead of the Federal Reserves’ meeting next week.
  • The DJI Average gained 30 points while the Nasdaq ended 86 points higher as the US 10-year yield stays at the 3.4% mark.
  • On the domestic front, the FBM KLCI declined to below the 1,470 level due to broad based selling yesterday in line with the regional weakness.
  • Though some bargain hunting activities are expected today, market undertone should remain cautious as the local bourse will be closed for public holiday tomorrow.
  • Therefore, we anticipate the index to trend within the 1,465-1,480 with some buying interests on the Banking, Technology and Telco sectors today.
  • Meanwhile, crude oil prices inched higher as the Brent crude ended at above the US$94/barrel mark on lower than anticipated inventory build-up.
Download
Daily Market Report (14 September 2022)
Daily Market Report (14 September 2022)
  • Wall Street slumped as the US inflation data came out higher than expected thus a prompting a more aggressive Federal Reserves’ rate hike next week.
  • The DJI Average lost 1,276 points while the Nasdaq declined by 633 points as the US 10-year yield inched above 3.41%.
  • Back home, the FBM KLCI closed below the 1,490 level attributed to the selling on financial stocks.
  • Though we believe some bargain hunting activities to emerge, sentiment may have been affected from the sell-down on Wall Street yesterday.
  • For today, we reckon the index to trend within the 1,480-1,495 range as we expect some bargain hunting on the Banks after yesterday’s selling and the Plantation sector as the crude palm oil price edged higher to RM3,900/tonne tracking the increase in soya prices.
Download
Daily Market Report (13 September 2022)
Daily Market Report (13 September 2022)
  • Wall Street trended higher as traders believed that inflation may have peaked in the US thus easing concerns over the Federal Reserves tough stance on future rate hike.
  • The DJI Average rose 230 points while the Nasdaq gained 154 points while the US 10-year yield edged higher to 3.36%.
  • As for the local bourse, the FBM KLCI failed to stay above the 1,500 level despite going above the level in early trading session.
  • Though overall sentiment on the local bourse remains cautious, we expect selected buying to persist in particular on the Technology sector today as well for the Telcos after yesterday’s decline.
  • The Oil & Gas sector may see some buying as well with the Brent crude continued with its upside now US$94/barrel on tight supply as deal with Iran on nuclear deal faded.

 

Download
Daily Market Report (12 September 2022)
Daily Market Report (12 September 2022)
  • Wall Street continued with its uptrend ignoring the Federal Reserves’ tough stance to fight inflation as all 3 major indices ended broadly higher.
  • The DJI Average closed 377 points higher while the Nasdaq jumped by 250 points as the US 10-year yield remained at above 3.31%.
  • At home, the FBM KLCI ended marginally higher from selective buying on Banks and Telcos.
  • With several attempts to breach the 1,500 mark failed, we reckon the index to breach this resistance today as we expect sentiment to improve with focus on the Banks and Technology sectors again.
  • Meanwhile, the Energy sector could see some volatility despite crude prices rebounded with the Brent surged past the US$92/barrel.
  • The Oil & Gas players are still plagued by concerns of weakening demand.
Download