Daily Market Report - 20 April 2026
- Wall Street ended sharply higher as Iran declared the Strait of Hormuz completely open in addition to a 10 day ceasefire announcement between Israel and Lebanon.
- As a result, crude oil price declined with the Brent crude dipping to around the USD90/barrel.
- Meanwhile, the US 10-year yield inched lower at 4.248% following the de-escalating tension in the middle east.
- As for Hong Kong equities, the HSI declined to almost the 26,000 level as traders remained uneasy over the ceasefire negotiations in the middle east.
- Back home, the FBM KLCI close on a positive note due to late buying activities.
- Overall interest was broad based but noticed Gamuda and PPB back on radar.
- For today, we expect the index to hover within the 1,690-1,700 range.
- In a latest development, Iran said that the Strait of Hormuz is closed again after some vessels came under gunfire.
- Whilst the whole situation is still very fluid, we advise investors to exercise caution and prefer to look at laggards.
