Market Reports

Daily Market Report (21 July 2022)
Daily Market Report (21 July 2022)
  • US equities continued to climb as traders believed that markets may have bottomed out with all 3 major indices closed higher.
  • The DJI Average rose 48 points while the Nasdaq jumped by 184 points as the US 10-year yield ended at the 3.03% level.
  • On the home front, the FBM KLCI ended to a 1-week high on the back of persistent bargain hunting activities.
  • Thus, we reckon the index to maintain its ascension and expect the index to trend within the 1,430-1,450 range today.
  • Meanwhile, the Brent crude ended slightly below the US$107/barrel.
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Daily Market Report (20 July 2022)
Daily Market Report (20 July 2022)
  • Wall Street closed higher as traders believe in a stronger corporate earnings report and that the market may have found its bottom.
  • As such, the DJI Average jumped 754 points higher while the Nasdaq gained 353 points as the US 10-year yield inched higher to almost 3.03%.
  • Back home, movements of the FBM KLCI had been rather volatile as its ended marginally lower.
  • However, we reckon buying activities to emerge on the back of the strong showing from the US and expect the index to trend within the 1,425-1,440 today.
  • Meanwhile, Brent crude continue with its climb to close at US$107.30/barrel as demand remains unrelenting.
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Daily Market Report (19 July 2022)
Daily Market Report (19 July 2022)
  • US equities closed lower following a strong opening as sentiments became cautious on expectations over a choppy earnings season ahead.
  • The DJI Average lost 215 points while the Nasdaq declined by 92 points as the US 10-year yield edged higher to almost 2.99%.
  • As for the local bourse, the FBM KLCI ended higher attributed to some late buying activities.
  • Nonetheless, potential upside for the benchmark index may be capped as sentiments remained fragile hence anticipate the index to hover within the 1,420-1,435 range today.
  • Meanwhile, the Brent crude rose above the US$105 mark to close at US$106.30/barrel as Biden failed to obtain a pledge from Saudi Arabia to boost output.
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Daily Market Report (18 July 2022)
Daily Market Report (18 July 2022)
  •  Wall Street rallied on the back of better earnings from the banks and fears of aggressive rate hike by the Federal Reserves subsided.
  • The DJI Average jumped by almost 660 points while the Nasdaq gained 201 points as the US 10-year yield eased slightly to 2.93%.
  • On the home front, the FBM KLCI weakened marginally as market undertone remained cautious due to lack of buying catalysts.
  • Therefore, we reckon the index to stay stuck within a tight trading range of between 1,415-1,425 today.
  • Meanwhile, crude palm oil price performance was rather subdued at RM3,800/tonne due to lower exports while the Brent crude rose to US$101.20/barrel on lower output from the US.
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Daily Market Report (15 July 2022)
Daily Market Report (15 July 2022)
  • US stocks staged a late rally as the broader market closed off their lows despite traders remained concern over inflation and weaker corporate results.
  • The DJI Average declined by 143 points while the Nasdaq eked out a 4 point gain with the US 10-year yield edged higher at 2.96%.
  • At home, the FBM KLCI ended higher due to some bargain hunting activities and expect the buying to continue thus anticipate the index to trend between the 1,415-1,430 range today.
  • Meanwhile, the Brent crude was marginally lower at US$99.10/barrel on concerns of more interest rate hikes.
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