Daily Market Report (26 July 2021)
  • Better than expected earnings boosted sentiments as major indices on Wall Street hit record highs again.
  • The DJI Average gained 238 points to close above the 35,000 mark whilst the Nasdaq was 152 points higher at above the 14,800 level.
  • As a result, we believe regional markets to possibly trend higher today following a mixed bag last Friday.
  • Locally, the FBM KLCI that saw some profit taking on Friday may see more selling pressure today as the country’s Covid-19 cases surged to a new daily high on Sunday hence any hopes of an easing of prevailing lockdown may not occur anytime soon.
  • Meanwhile, the Parliament will reconvene today for 5 days thus today may be a rather interesting day.
  • As for the local bourse, we anticipate the index to trend within the 1,520-1,530 range today.
Daily Market Report (23 July 2021)
  • US equities eked out gains propped up by solid earnings expectations despite a higher than expected jobless claims.
  • Though the DJI Average closed relatively flat at 34,823 or 25 points higher, the Nasdaq was up 53 points closing in on the 14,700 level.
  • Contrary to expectations, regional markets performed broadly higher amid the surging Covid-19 cases yesterday thus we reckon profit taking activities may appear today.
  • At home, the FBM KLCI performed better than expected buoyed by late buying support from local institutions as well as the strengthening of regional bourses.
  • We reckon this may not be sustainable as yesterday’s buying could be due to some quarterly window dressing activities.
  • As such, we anticipate the index to possibly hover within the 1,520-1,530 range today.
  • Meanwhile, keep an eye on both the crude palm oil and crude oil prices as both of our main exports are beginning to show some strength again.
Daily Market Report (22 July 2021)
  • Wall Street’s recovery continued as sentiments were buoyed by the better than expected earnings with inflationary fears are now largely being ignored for now.
  • The DJI Average jumped by 286 points to closed at almost the 34,800 level while the Nasdaq gained 133 points to breach the 14,600 mark.
  • Though, we believe regional markets may take cue from the US market, surging Covid-19 cases within the region will continue to hamper any solid buying thus foresee another day of mixed performances.
  • On the local front, we reckon the FBM KLCI performance to remain lackluster amid the unrelenting local Covid-19 cases.
  • Though there were improvements in the overall market volume, sentiments is expected to be cautious hence the index is seen to trend around the 1,510-1,520 today.
Daily Market Report (21 July 2021)
  • Wall Street rebounded following a sell-off on Monday as bargain hunting activities emerged despite the concerns of a resurgence in global Covid-19 cases.
  • The DJI Average surged by almost 550 points to above the 34,500 mark while the Nasdaq jumped by 224 points to around the 14,500 level.
  • Therefore, we expect to see some bargain hunting amongst the regional markets today however sentiments should be mixed amid the heightened volatility.
  • Back home, the performance of the FBM KLCI has been jittery amid the lingering weak market undertone.
  • With market participation still muted, we continue to see the local bourse to trend within a narrow range in the absence of sustained buying from the foreign funds.
  • For today, we expect the index to trend around the 1,515-1,525 range.
Daily Market Report (19 July 2021)
  • Fears of inflationary pressure overshadowed better than expected earnings and economic data as US equities all ended in negative territory.
  • The DJI Average lost 300 points to close around the 34,700 level while both the Nasdaq and S&P 500 were 116 points and 33 points lower respectively.
  • As some countries are opening up their economies many are concern that a new phase of Covid infection may occur.
  • Meanwhile, we reckon regional markets to be mixed today as the pandemic are still ravaging the region’s economies.
  • In Malaysia, the lifting of EMCO in many parts of Selangor and Kuala Lumpur may be positive news but uncertainties are still evident amid the high Covid cases.
  • Thus, we believe trading activities on the local bourse to remain muted and expect the FBM KLCI to trend within the 1,515-1,525 range as the market will be closed for Hari Raya Adiladha tomorrow.