Market Reports

Daily Market Report (9 June 2021)
Daily Market Report (9 June 2021)
  • Wall Street remains stuck in a narrow range as traders are still in their “wait & see” attitude ahead of economic data.
  • The DJI Average was down 30 points to end at around the 34,600 mark whilst the Nasdaq gained 43 points inching closer to the 14,000 level.
  • In view of this, we believe regional markets to continue to be mixed today in the absence of any clear catalysts.
  • Back home, we believe some profit taking may emerge following yesterday’s solid closing.
  • Therefore, we reckon the FBM KLCI to hover within the 1,580-1,590 range today.
  • Meanwhile, the Brent crude price has surpassed US$72 currently trading at US$72.22/barrel.
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Daily Market Report (8 June 2021)
Daily Market Report (8 June 2021)
  • Wall Street remains volatile as inflation is playing its part amid good job data hence traders are anticipating that the Feds easy money policy may be curbed sooner than later.
  • The DJI Average lost 126 points to end at 34,600 mark with the Nasdaq added 67 points to close at around the 13,900 level.
  • With the uncertainty, we reckon regional markets to be rather mixed today.
  • On the local front, we would expect some rebound from the FBM KLCI and see the index to challenge the 1,585 level today.
  • Meanwhile, the Brent crude oil price has breached the US$71/barrel.
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Daily Market Report (4 June 2021)
Daily Market Report (4 June 2021)
  • Wall Street ended slightly lower after a tough session as investors remained cautious despite upbeat economic data on employment and service sector activity, breaking a 5-day win streak.
  • The DJIA closed 0.07% lower to end at 34,577.04. At the same time S&P 500 and Nasdaq fell 0.4% and 1% respectively to end at 4,192.85 and 13,614.51 respectively.
  • On the other hand, Asian equities ended mostly lower on previous close as investors on cautious mode due to risk of inflation in the US.
  • Meanwhile in the local front, the FBM KLCI closed 0.46% lower to end at 1,590.57.
  • We expect the local market to trend sideways due to lack of catalysts and expect the FBM KLCI to hover in the range of 1,585-1,595.
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Daily Market Report (3 June 2021)
Daily Market Report (3 June 2021)
  • Wall Street were stagnant as traders are looking ahead of job report this Friday.
  • Nonetheless, all 3 major indices closed firmer with the S&P 500 hovering close to its record high. The DJI Average was up 25 points at 34,600.
  • As trading on Wall Street remains muted, we reckon trading on the regional markets to be mixed today.
  • Back home, the FBM KLCI performed credibly by closing above the 1,595 level.
  • Hence, today we believe the index should test the 1,600 mark and trend within the 1,595-1,605 range today.
  • Meanwhile, the Brent crude oil price continues to increase above the US$71/barrel.
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Daily Market Report (2 June 2021)
Daily Market Report (2 June 2021)
  • US equities were flat as optimism over the reopening of the economy was hit by inflationary concerns.
  • Meanwhile, the US 10-year Treasury yield hit the 1.6% again.
  • Regional markets continued with the uptrend yesterday and we expect this to continue today as we believe foreign funds are trickling into Asia.
  • As for the local bourse, though the FBM KLCI was flat, we notice foreign funds again were net buyers yesterday.
  • Therefore, we expect the index to trend within 1,585-1,595 range today.
  • As for the Brent crude, it broke the US$70/barrel.
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