Market Reports

Daily Market Report (21 April 2022)
Daily Market Report (21 April 2022)
  • Wall Street ended on a mixed note as buyers emerged buoyed by a set of solid earnings but technology stocks were hammered attributed to a steep plunge in Netflix.
  • As a result, the DJI Average gained 250 points while the Nasdaq declined by 166 points.
  • Meanwhile, the US 10-year yield eased marginally to around the 2.85% mark.
  • Back home, the FBM KLCI finally reversed its downtrend to close above the 1,590 level due to some bargain hunting activities.
  • For today, we reckon buying to continue and expect the index to trend within the 1,590-1,605 range.
  • Crude oil prices remained stagnant as the Brent crude stays at US$107/barrel.
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Daily Market Report (20 April 2022)
Daily Market Report (20 April 2022)
  • Wall Street climbed higher ignoring the imminent rate hike as traders bought up banks buoyed by solid earnings reported.
  • The DJI Average added almost 500 points while the Nasdaq gained 287 points despite the US 10-year yield moving towards the 3.0% mark.
  • The local bourse was closed yesterday but performance of the FBM KLCI have been rather weak of late.
  • The lack of positive catalysts coupled with the decline in foreign buying saw the index dipped to the 1,580 level.
  • Nonetheless, we reckon some bargain hunting activities to emerge in view of a more robust regional performance hence expect it to hover within the 1,575-1,590 range today.
  • Meanwhile, the IMF slashed its global economic forecast resulting in lower crude prices with the Brent crude down to around US$107/barrel.
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Daily Market Report (18 April 2022)
Daily Market Report (18 April 2022)
  • Wall Street was closed for Good Friday.  Nonetheless, many expect US equities remain volatile in view of a more aggressive tapering by the Federal Reserves during the next FOMC meeting on May 3.
  • As for the local bourse, continued profit taking activities by some foreign funds again pushed the FBM KLCI lower to below the 1,590level.
  • However, we reckon funds will focus on equities as the 10-year MGS yield have risen to a multi-year high at 4.12%.
  • For today, we anticipate the index to trend around the 1,585-1,595 range as sentiments remain cautious.
  • Meanwhile, as the crude palm oil remains solid we noticed that consensus are beginning to change their stance on the sector to more positive.
  • Thus, we advocate investors to look at planters with high dividend yields namely FGV, Hap Seng Plant and Ta Ann.
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Daily Market Report (15 April 2022)
Daily Market Report (15 April 2022)
  •  Wall Street closed weaker on the back of a mixed set of earnings from major banks amid inflationary fears.
  • The DJI Average ended 113 points lower while the Nasdaq lost 292 points as the US 10-year yield surge to a multi year high of 2.83%.
  • Back home, the FBM KLCI again succumbed to late selling as it closed in the red following a strong opening.
  • For today, we reckon the index to remain stuck within a narrow range due to the lack of catalysts and expect it to hover within the 1,590-1,600 range.
  • As the US market will be closed today for Good Friday, we reckon it will be another listless day amongst the regional markets.
  • Meanwhile, concerns over the crude oil deficit remains as the Brent crude pushed above US$110 to end at almost US$112/barrel.
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Daily Market Report (14 April 2022)
Daily Market Report (14 April 2022)
  •  Wall Street staged a relief rally as the earnings season kicks off with a set of positive results, temporarily ignoring the prevailing inflationary pressure.
  • The DJI Average jumped by 344 points while the Nasdaq closed 272 points higher.
  • The US 10-year yield remains at the 2.7% mark. As for the local bourse, sentiments remained rather jittery as early gains were wiped out attributed to late profit taking activities.
  • Though we reckon the index to trend higher today, regional volatility may curtail the uptrend hence expect the index to hover within the 1,595-1,605 range.
  • Meanwhile, the Brent crude closed higher at US$108/barrel as prevailing oil inventories are below its 5-year average.
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