Daily Market Report (24 Sept 2019)
  • We view Budget 2020 as one of the most crucial over the past years for the revival of the ailing domestic economy and sentiments.
  • A lot has been said about the wish list and we believe it is time the authorities take heed of what is really required with implementation of some radical measures namely revisiting the likes of improving liquidity within the financial sector which has been drastically missing over the past years.
  • Therefore, if Budget 2020 is just another sitting on the fence attempt, we reckon the agony would only be prolonged.
Daily Market Report (23 Sept 2019)
  • Uncertainties continue to plague the global financial markets as interest rates are expected to be the major determinant over the course of next few months. As many are expecting the Federal Reserves to further cut rates, the ECB is also seen to be biased towards a lower rate regime.
  • Meanwhile, the US 10-year Treasury yield had declined to 1.72% from above the 1.90% level only a week ago as funds returned Treasuries at the expense of equities with the DJI Index closed almost 160 points lower last Friday.
  • All said, we can expect another boring day on the local bourse with the FBM KLCI expected to trend between the 1,595-1,605 range today.
Weekly Market Review (23 Sept 2019)
  • Major stock markets ended in negative territory last week, except for Indonesia’s JCI which posted a weekly gain of 0.2%. Hong Kong’s Hang Seng Index dropped 688.9 points to 26,447 level weighed down by the ongoing protest.
  • Brent crude oil price finished at USD64.3/bb lifted by the Middle East tension. Locally, the FBM KLCI lost 0.43% or 6.9 points to 1,597.4. Weekly foreign funds turned negative to RM249.3m of net outflow.
  • Performance amongst the FBMKLCI components saw 9 gainers to 20 losers. Top 3 performers include AMBANK (+2.68%), AIRPORT (+2.22%) and PETGAS (+1.22%) while the 3 losers were GENM (-4.69%), KLK (-2.21%) and HLFG (-2.18%).   
Daily Market Report (19 Sept 2019)
  • As widely expected, the Federal Reserve has cut 25bps yesterday and this marks the second rate cut for the year while leaving room for further easing.
  • The back-to-back rate cuts have seen most major central banks globally following the easing of rates to support the slowdown in growth in most countries.
  • Malaysia which move ahead of the rest with the rate cut back in May has time on its side, and we see no rush to cut rates. As for our equity market, we expect the FBM KLCI to remain range bound within 1,600 level and selective buying opportunities.    
Daily Market Report (18 Sept 2019)
  • Stocks on Wall Street continued to rally to its near all-time high level while crude oil price has tapered off to below high breaching USD70/bbl to settle at USD65/bbl, however it will continue to remain volatile.
  • All eyes will on Federal Reserve 2-day meeting which will announce its latest decision on monetary policy. Market expectations is for a 25bps cut and this would be the second rate cut in 2019.
  • As for our market, we expect the FBM KLCI to remain firmly above 1,600 mark as foreign funds were net inflow for the past week and this week.