Daily Market Report - 16 June 2026
- Wall Street extended its rally after Trump said that the US and Iran have reached an agreement to end the war.
- As a result, crude oil prices declined with the Brent crude trending at around USD83/barrel currently while the US 10-year yield slid slightly to 4.473%.
- Meanwhile, regional markets “lifted-of” following a possible resolution to the middle east crisis that will see the re-opening of the Strait of Hormuz and the lifting of the US blockade.
- Nonetheless, we noticed that there remain some apprehension as most major indices closed off their respective day’s high.
- Back home, the FBM KLCI ended just above the 1,690 mark but upside was suppressed by the sell-down on PChem (-15%).
- Nonetheless, bargain hunting activities took centre stage as the daily volume surpassed the 5bn shares level.
- Thus, we expect the index to maintain its climb and hover within the 1,690- 1,710 range today.
