Market Reports

Daily Market Report (25 August 2022)
Daily Market Report (25 August 2022)
  • Wall Street closed marginally higher as uncertainty over Fed Chairman speech at Jackson Hole this Friday continue to cause some uncertainties.
  • The DJI Average gained a mere 60 points while the Nasdaq was up by 50 points with the US 10-year yield inched higher at 3.11%.
  • Back home, the FBM KLCI declined further as selling gathered momentum in the afternoon session especially on plantation stocks.
  • Despite the index had declined by 50 points over the past 5 days, bargain hunting was nowhere to be seen as sentiment had turned cautious.
  • Therefore, we reckon the index to trend within the 1,460-1,475 range today and expect some interests to returned on energy stock with the Brent crude now hovering at above the US$101/barrel.
  • We also expect some rebound on the plantation stocks as yesterday’s selling could be a bit overdone with the crude palm oil ended higher to above RM4,300/tonne.
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Daily Market Report (24 August 2022)
Daily Market Report (24 August 2022)
  • US equities continue to slide amid heightened concerns over interest rate hike by the Federal Reserves as the US 10-year yield edged higher to 3.06%.
  • As such, the DJI Average lost 154 points while the Nasdaq remained flat.
  • On the home front, we saw some buying on local equities during the afternoon session with the FBM KLCI stayed above the 1,480 level.
  • For today, we reckon the buying to continue on technology and energy related stocks as the Brent crude surged above the US$100/barrel again overnight on news that OPEC may cut production. 
  • Therefore, we expect the index to possibly hover within the 1,480-1,500 range today.
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Daily Market Report (23 August 2022)
Daily Market Report (23 August 2022)
  • Wall Street slumped as concerns on more aggressive interest rate hike by the Federal Reserves resurfaced.
  • The DJI Average lost 643 points while the Nasdaq fell by an even steeper 324 points as the US 10-year yield edged higher to 3.02%.
  • Back home, the FBM KLCI closed broadly lower amid a weak regional performance spooked by the weak futures on Wall Street yesterday.
  • Though sentiments have turned cautious again, we reckon bargain hunting to emerge in particular on banking and technology related stocks thus expect it to trend within the 1,480-1,500 range today.
  • Meanwhile, crude palm oil improved to above RM4,200/tonne backed by improved demand.
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Daily Market Report (22 August 2022)
Daily Market Report (22 August 2022)
  • Wall Street closed lower as buying fizzled out on concerns of inflation and more interest rate hike by the Federal Reserves.
  • The DJI Average lost 292 points while the Nasdaq ended 260 points lower as the US 10-year yield inched higher at 2.98%.
  • On the domestic front, the FBM KLCI continued to slide due to broad based selling activities in the afternoon session.
  • For today, we reckon some bargain hunting to emerge on Banking, Telco and Healthcare stocks following some heavy selling of late.
  • Therefore, we expect the index to trend within the 1,500-1,515 range today.
  • As for the corporate earnings announced so far, we noticed that the Banks, Planters, Reits and selected manufacturing entities (technology and F&B) reported a solid set of earnings.
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Daily Market Report (19 August 2022)
Daily Market Report (19 August 2022)
  • Wall Street ended in positive territory with all 3 major indices struggled to stay marginally higher as traders remain in cautious mode.
  • The DJI Average closed 19 points higher while the Nasdaq gained 27 points as the US 10-year yield fell slightly to 2.89%.
  • On the home front, the FBM KLCI closed slightly lower due to profit taking activities during the afternoon session particularly on Telcos which performed rather well earlier this week.
  • As corporate results reporting has begun, we noticed earnings from the Oil & Gas related stocks to be rather weak so far amid the sector’s volatility.
  • As such, we expect some selling pressure on the O&G counters over the immediate term.
  • Meanwhile, the Brent crude edged higher to almost US$97/barrel on expectations of improving demand.
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