Market Reports

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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Daily Market Report (14 July 2022)
Daily Market Report (14 July 2022)
  •  Wall Street declined as the US inflation hit a 40 year high adding fears that the Federal Reserves will be aggressive with its rate hikes.
  • The DJI Average dipped by more than 200 points while the Nasdaq lost 17 points as the US 10-year yield eased marginally to 2.93%.
  • On the home front, the FBM KLCI weakened to a 2 and a half year low as sentiments remained cautious.
  • Nonetheless, we reckon some bargain hunting activities could emerge as the benchmark index is nearing its support level at 1,400.
  • Therefore, we expect the index to hover within the 1,405-1,425 range today.
  • Meanwhile, weaker exports saw crude palm oil price slumped to RM3,850/tonne while the Brent crude was stagnant at US$99.60/barrel on concerns of slowing global growth.
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Daily Market Report (13 July 2022)
Daily Market Report (13 July 2022)
  •  US equities ended broadly lower after enduring a volatile session as sentiments remain jittery on slower economic growth amid inflationary pressure.
  • The DJI Average dropped 192 points while the Nasdaq lost 108 points as the US 10-year yield eased marginally to 2.97%.
  • On the home front, the FBM KLCI staged a last minute rally to close in positive territory.
  • Nonetheless, market undertone continues to be lackluster as we expect the index to oscillate between the 1,415-1,430 range today.
  • Meanwhile, concerns over demand due to new lockdowns in Shanghai and inflation dampened crude oil prices with the Brent crude slumped to below the US$100 level to close at US$99.50/barrel.
  • Crude palm oil also declined on news of higher stockpile as price ended at RM4,120/tonne.
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Daily Market Report (12 July 2022)
Daily Market Report (12 July 2022)
  • Wall Street declined overnight as traders braced themselves for the earnings season which is expected to kick-off later this week.
  • The DJI Average was down 164 points while the Nasdaq closed 263 points lower despite the US 10-year yield ended just below the 3% mark.
  • Last Friday, the FBM KLCI closed higher due to some bargain hunting activities and expect the index to remain stuck in a consolidation mode.
  • Therefore, we anticipate the benchmark index to hover within the 1,415-1,430 range today.
  • Meanwhile, crude palm oil staged a mild rebound to RM4,140/tonne while the Brent crude jumped to above the US$107/barrel level on concerns over the supply side.
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Daily Market Report (8 July 2022)
Daily Market Report (8 July 2022)
  • Wall Street staged a relief rebound ahead of key job reports as all 3 major indices closed higher.
  • The DJI Average was up by 347 points while the Nasdaq gained 260 points despite the US 10-year yield inched higher to the 3% mark.
  • At home, the FBM KLCI edged lower attributed to some late selling yesterday as sentiments remained cautious.
  • However, we reckon some buying activities to emerge and expect the index to hover within the 1,415-1,430 range today.
  • Meanwhile, crude palm oil closed marginally lower at RM3,946/tonne while the Brent crude ended higher at around US$105/barrel on concerns of a potential civil war in Libya.
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