Daily Market Report (15 March 2022)
  •  Ongoing tension between Russia and Ukraine coupled with the highly anticipated rate hike by the Federal Reserves saw US equities closing on a mixed note.
  • While the DJI Average ended flat, the Nasdaq was down by 262 points as the US 10-year yield surged past the 2% to close at 2.14%.
  • Locally, the FBM KLCI closed flat due to some late buying from foreign funds. For today, we reckon the index to trend higher attributed to continuous support from foreign funds and expect it to trend within the 1,560-1,580 range.
  • Meanwhile, profit taking activities saw the crude palm oil dipped below the RM7,000/tonne level while the Brent was down to US$107/barrel on the back of another lockdown in Shenzen.
Daily Market Report (14 March 2022)
  • Wall Street closed sharply lower as tech and growth shares led a broad decline and investors worried about the conflict in Ukraine while attention turned to the Federal Reserve's policy meeting in this week.
  • The DJI Average lost 230 points while the Nasdaq declined by 286 points. We reckon the Fed to tighten monetary policy this year to fight the 40-year high inflation.
  • As for the local bourse, we reckon investor sentiment to remain jittery though bargain hunting activities may emerge as well.
  • As such, we anticipate the FBM KLCI to trend in range bound and hovering within the 1,560-1,580 range for today.
  • The crude palm oil eased to below RM7,000 level with the Brent crude remained high at above US$110/barrel.
Daily Market Report (11 Mar 2022)
  •  Wall Street fell as sentiments were spooked by the failed ceasefire talk between Russia and Ukraine.
  • The DJI Average lost 112 points while the Nasdaq declined by 125 points.
  • With the FOMC meeting looming next week, the US 10-year yield inched higher to almost the 2% mark.
  • On the local front, we expect sentiments to remain cautious amid the heightened market volatility thus anticipate the FBM KLCI to trend within the 1,570-1,590 range today.
  • Meanwhile, the crude palm oil remains elevated at above the RM7,700 level with the Brent crude easing further to below the US$110/barrel.
Daily Market Report (10 March 2022)
  •  US equities rebounded sharply despite the ongoing tension in Ukraine as sentiments improved over the cooling off in crude oil prices following UAE calls to increase oil supply.
  • The DJI Average rose by 654 points while the Nasdaq added 460 points to close above the 13,000 mark.
  • Meanwhile the US 10-yield also ended higher to around the 1.95%.
  • Back home, late bargain hunting activities helped push the FBM KLCI higher. The buying on the local bourse was broad based as most indices ended in positive territory.
  • For today, we expect the index to continue with the uptrend and envisage it to hover within the 1,555-1,575 range.
  • While the crude palm oil surged closer to the RM7,700 level again, the Brent crude eased to IS$112/barrel.
Daily Market Report (9 March 2022)
  • Sentiments on Wall Street continued to be spooked by surging commodity prices and inflationary pressures as all 3 major indices erased earlier gains to end in negative territory.
  • The DJI Average lost 185 points while the Nasdaq declined by 35 points.
  • Amid the heightened volatility and regional weaknesses, the FBM KLCI fell further wiping out all gains over the past weeks.
  • In the absence of any clarity, we reckon the index to continue to drift further though we noticed some bargain hunting at the 1,550 level.
  • For today, we expect the index to trend within the 1,540-1,560 range as sentiments remain cautious notwithstanding the yesterday’s announcement of border reopening by April 1.