Market Reports

Daily Market Report (12 May 2022)
Daily Market Report (12 May 2022)
  • Higher than expected inflation figure for April rattled Wall Street as all 3 major indices declined to a new 52-week low.
  • The DJI Average lost 326 points while the Nasdaq fell by a steeper 373 points despite the US 10-year yield hovering below the 3% mark at around the 2.93%.
  • Back home, the FBM KLCI inched marginally higher following a listless trading day.
  • Nonetheless, we reckon the index may be faced with some headwinds today amid the heighten regional volatility mirroring the weakness in US equities overnight.
  • Therefore, we expect the index to trend within the 1,545-1,560 range today as we believe impact from the latest 25bps hike in OPR may positive for banks.
  • Meanwhile, crude oil prices rebounded with the Brent jumped back to US$108/barrel as the EU may be impacted by the supply squeeze.
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Daily Market Report (11 May 2022)
Daily Market Report (11 May 2022)
  •  It was another erratic day on Wall Street as sentiments were greatly influenced by recent downtrend ahead of inflationary data to be out today.
  • The DJI Average was down 85 points while the Nasdaq gained 114 points as the US 10-year Treasury yield eased to below the 3% mark.
  • On the home front, the FBM KLCI rebounded slightly from some bargain hunting activities thus we expect the index to hover within the 1,550-1,565 range today.
  • Meanwhile, crude palm oil price ended lower due to higher inventory while crude oil prices also closed lower attributed to concerns over the lockdowns in China.
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Daily Market Report (10 May 2022)
Daily Market Report (10 May 2022)
  • Drastic sell-off on US equities continued as overall sentiments turned jittery attributed to prevailing tightening policy by the Federal Reserves.
  • As a result, the DJI Average declined by 654 points while the Nasdaq dipped 521 points despite the US 10-year yield eased marginally to 3.03%.
  • As for the local bourse, the FBM KLCI closed lower to below the 1,550 level yesterday due to continuous selling by foreign funds.
  • Though we expect some bargain hunting to emerge, overall sentiments remain cautious over the heightened volatility on regional markets.
  • Therefore, we reckon the index to trend within the 1,540-1,555 range today.
  • Meanwhile, crude oil prices declined as outlook remains cloudy due to the lockdowns in China coupled with EU’s move to embargo Russian oil that is still unclear.
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Daily Market Report (9 May 2022)
Daily Market Report (9 May 2022)
  •  Wall Street closed lower last Friday as sentiments remained jittery following the sharp decline the day before.
  • Traders were unable to find a solid footing as buying activities diminished.
  • As a result, the DJI Average lost 99 points while the Nasdaq declined by 173 points as the US 10-year yield inched closer to the 3.15% mark.
  • On the local front, the FBM KLCI also closed on a weak note amid the regional weaknesses. 
  • Though we expect some bargain hunting activities to emerge as the index is hovering close to its support level of around the 1,565 level, the US futures remains weak thus we reckon it will be another volatile day hence anticipate the index to possibly hover within the 1,560-1,575 range today.
  • Meanwhile, the Brent crude has risen to above the US$112/barrel on concerns over potential disruptions on the supply side.
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Daily Market Report (6 May 2022)
Daily Market Report (6 May 2022)
  • Wall Street declined as sellers emerged on a mega selling spree as the US 10-year yield surged pass the 3% level.
  • The DJI Average lost more than 1,000 points while the Nasdaq fell by almost 650 points.
  • On the home front, the FBM KLCI closed lower attributed to some aggressive selling in the afternoon session.
  • In view of the dramatic decline on Wall Street, we believe regional markets to see a tumultuous trading day today.
  • Therefore, we reckon the index to trend lower at between the 1,570-1,585 range today.
  • Meanwhile, the crude palm oil lost 4% to around the RM7380/tonne on expectation that Indonesia may lift their ban on exports.
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