Market Reports

Daily Market Report (5 September 2022)
Daily Market Report (5 September 2022)
5 Sep 2022
  • Sentiment on Wall Street continued to be nervous despite recent solid job data as traders remained cautious over the Federal Reserves’ stance on interest rate this month.
  • As a result, the DJI Average declined 338 points while the Nasdaq lost 154 points despite the US 10-year yield eased below 3.20%.
  • On the home front, the FBM KLCI closed marginally lower supported by some late buying from foreign funds.
  • As reports on GE15 are getting louder by the day, we reckon interests should shift back to the Construction sector.
  • Meanwhile, the Telco sector remains plagued by outstanding uncertainties over the sale of stake in Digital Nasional Bhd but we believe this should be resolved soon.
  • Therefore, we expect the index to trend within the 1,485-1,505 range today.
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Daily Market Report (2 September 2022)
Daily Market Report (2 September 2022)
  • Wall Street closed on a mixed note as traders are looking towards the job data later today.
  • The DJI Average was up 146 points while the Nasdaq declined by 31 points as the US 10-year yield continues to climb currently at 3.26%.
  • As for the local bourse, the FBM KLCI ended weaker amid a regional downtrend attributed to fresh lockdown in China.
  • Though we expect some bargain hunting to emerge, sentiment is seen to remain cautious hence anticipate the index to hover within the 1,485-1,500 range today.
  • Nonetheless, we reckon selling in Plantation stocks should appear as the crude palm oil dipped to below the RM4,000 level on lower exports.
  • Meanwhile, Oil and Gas stocks should also experience some selling pressure as the Brent crude price closed lower at US$92/barrel.
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Daily Market Report (1 September 2022)
Daily Market Report (1 September 2022)
  • Wall Street ended lower as concerns over interest rate hike and slowing economic growth continue to plague overall sentiment.
  • The DJI Average lost 280 points while the Nasdaq declined by 67 points as the US 10-year yield closed higher at almost 3.20%.
  • In view of this, we reckon the local bourse to encounter some headwinds today as the regional markets closed on a mixed note yesterday.  
  • Meanwhile, consensus is expecting Bank Negara to possibly raise rate during the next Monetary Policy Committee meeting next week by 25bps thus expect some buying interest on the banking stocks.
  • For today, we expect the FBM KLCI to trend within the 1,500-1,520 range with the broader market to experience some weakening.
  • Meanwhile yesterday’s reports that Maxis and U Mobile rejecting stake in Digital Nasional Bhd may cause some uncertainties within the Telco sector.
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Daily Market Report (30 August 2022)
Daily Market Report (30 August 2022)
  • Wall Street closed lower as selling continued amid concerns over hike in interest rates and tightening US monetary policy.
  • The DJI Average lost 184 points while the Nasdaq dropped by 124 points as the US 10-year yield ended higher at 3.11%.
  • Back home, selective buying support helped maintain the FBM KLCI to stay marginally above the 1,500 level.
  • Though sentiment is expected to remain cautious along with heightened volatility, we reckon the local bourse to be well supported by the continuing net inflow of foreign funds hence expect the index to trend within the 1,490-1,510 range today.
  • Meanwhile, we anticipate buying interest may spillover to the Energy sector as the Brent crude surged past the US$105/barrel on fresh concerns over supply side.
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Daily Market Report (29 August 2022)
Daily Market Report (29 August 2022)
  • Wall Street slumped after Feds Chairman commented the central bank’s stance to continue fighting to curb inflation.
  • As a result, the DJI Average fell by more than 1,000 points while the Nasdaq lost almost 500 points as the US 10-year yield remained at 3.03%.
  • Back home, the FBM KLCI saw some profit taking during the afternoon session but stayed above the 1,500 mark.
  • For today, we reckon sentiments to become cautious following the steep decline on Wall Street.
  • Therefore, we expect some selling to emerge and see the index to hover within the 1,490-1,505 range today.
  • Though earnings reported so far from plantation stocks are encouraging, there may be some profit taking activities on the planters as many expect 3Q earnings to dip following the decline in crude palm oil prices of late.
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