Market Reports

Daily Market Report (6 Sept 2021)
Daily Market Report (6 Sept 2021)
  • Wall Street closed mixed last Friday on the back of a disappointing job data which came in short of expectation.
  • This may create some uncertainty on the Federal Reserves tapering stance. The DJI Average lost 74 points while the Nasdaq closed 32 points higher.
  • In view of this, we reckon trading amongst the regional markets to be mixed today.
  • On the local front, we expect the FBM KLCI to continue with its ascension following a positive closing last Friday.
  • Buying support from foreign funds are expected to continue thus we believe the benchmark index to trend higher today.
  • Though overall Covid cases remains high, we noticed that the figures of both Selangor and Kuala Lumpur are improving which may see more good news of the highly populated Klang Valley.
  • Therefore, we anticipate the index to hover within the 1,590-1,600 today.
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Daily Market Report (3 Sept 2021)
Daily Market Report (3 Sept 2021)
  • Major indices on Wall Street rebounded on lower weekly jobless claims as both the Nasdaq and S&P 500 closed at record highs again.
  • Meanwhile, the DJI Average gained 131 points to inch closer to the 35,500 mark.
  • Nonetheless, all eyes will be on the more crucial US job data today as this will determine the pace of the Federal Reserves removal of its easy money policy.
  • Domestically, the FBM KLCI continued with its correction which we deem as healthy.
  • News of prospective easing for the tourism sector may further boost sentiments.
  • Therefore, we reckon the index to stabilize going forward as foreign funds continue to return.
  • For today, we see the index to trend within the 1,580-1,590 range.
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Daily Market Report (2 Sept 2021)
Daily Market Report (2 Sept 2021)
  • Wall Street closed mixed as trading activities remained muted following a lower than expected job data.
  • The DJI Average ended 48 points lower while the Nasdaq was up by 50 points to stay above the 15,300 level.
  • Against such backdrop, we reckon regional markets to experience another mixed performance ahead.
  • As for the local bourse, late drastic selling activities saw the index dipped to below the 1,590 mark yesterday.
  • Nonetheless, we find this correction as healthy after a mini rally since mid-August which saw the benchmark index jumped by almost 7%.
  • For today, we anticipate the index to possibly consolidate further with bargain hunting activities to emerge if the index dips below the 1,575 level.
  • Looking ahead, we believe the index to trend around the 1,580-1,590 range today.
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Daily Market Report （1 September 2021)
Daily Market Report （1 September 2021)
  • Major indices on Wall Street closed flat as trader are pondering on fresh impetus amid the Federal Reserves imminent tapering of easy money.
  • The DJI Average was in negative territory for the whole session and ended 36 points lower.
  • In view of this, we believe regional markets to continue with their mixed performance today.
  • On the domestic front, the FBM KLCI displayed another impressive performance on Monday as it stayed above the 1,600 mark.
  • Foreign funds continued to pour into the local bourse with more than RM1.1bn of net inflows over the last 3 days.
  • We expect the momentum to continue thus expect the index to chart higher although some correction is anticipated.
  • For today, we reckon the index to oscillate within the 1,595-1,605 range.
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Daily Market Report (30 August 2021)
Daily Market Report (30 August 2021)
  • Wall Street rebounded as traders perceived the Federal Reserves statement on tapering as very well managed.
  • As a result, both the Nasdaq and S&P 500 closed at record highs with the DJI Average ended 243 points higher to almost the 35,500 mark.
  • Therefore, we reckon regional markets to perform better today following a rather mixed showing last week.
  • Locally, the FBM KLCI continued with its impressive performance as buying from foreign funds persisted.
  • For last week alone, the index jumped by almost 5% and we expect it to continue with the uptrend.
  • Though a correction is anticipated, we believe the intermittent profit taking activities to soften the impact.
  • For today, we expect the benchmark index to inch closer towards the 1,600 level and hover within the 1,590-1,600 range today.
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