Daily Market Report (19 Nov 2019)
  • In tandem with regional uptrend, the FBM KLCI breached the dreaded 1,600 mark again amid some window dressing activities.
  • We believe the benchmark index to trend at higher grounds today with the 1,610 as the immediate resistance level.
  • With liquidity pouring into the blue chips, we reckon the small cap space should also benefit and continue with its upward momentum.
  • Amongst others, our current favourite small caps are Kelington, RCE Cap, Vertice, LYC Healthcare and Bahvest.
Daily Market Report (18 Nov 2019)
  • Despite some positive developments from the US China Tariff discussion, we believe the situation remains fluid and remain unconvinced until more concrete evidence surfaces.
  • With Wall Street charting all time highs, we reckon the US market is running ahead of its fundamentals hence becoming more susceptible to the slightest of negative newsflow.
  • As such, we would maintain our cautious stance and prefer to stay sidelined for the time being.
  • On the local front, there may be some buying activities today but the benchmark FBM KLCI should see some headwinds towards the 1,600 mark.
Daily Market Report (15 Nov 2019)
  • Equities are not going anywhere for the time being judging by the performance on Wall Street.
  • The lack of catalysts couple with the fluid stance between the US and China, we believe investors would rather stay sidelined.
  • Meanwhile the Ringgit has also weakened to around the 4.15/US$1 level from 4.12 in tandem with the Chinese renminbi which had crossed the 7.0 threshold again.
  • Locally, we reckon the market to trend on a narrow range of between 1,595/1,600 in view of prevailing murky situation.
Daily Market Report (14 Nov 2019)
  • The protracted outcome of the US China Trade discussion is making investors jittery as we are seeing some funds diverting to bonds and other safer haven like gold.
  • On the local front, yesterday’s sell-down was also exacerbated by regional weaknesses across the board.
  • As for today, we would expect some buyers to return to take advantage of yesterday’s decline which was a tad overdone.
  • Expect the FBM KLCI to trend higher today possibly retesting the 1,605 mark again.
Daily Market Report (13 Nov 2019)
  • Ongoing turmoil in Hong Kong coupled with the US China trade talk that had stagnated thus far would continue to afflict some volatility onto the equity markets.
  • We reckon the local bourse to trade within a narrow range and envisage the FBM KLCI to trend between 1,605/10 over the immediate period.
  • Over to the ongoing results for the 3Q and so far corporate Malaysia have done pretty well which should induce some upward revision to corporate earnings for 2019.
  • Judging from the recent dip in Ringgit against the USD, foreign funds may be in our markets but without much conviction.