Daily Market Report (17 Sept 2019)
  • Wall Street remains volatile exacerbated by the attack on Saudi Arabia’s Aramco facilities. We reckon there may be some positive knee jerk reactions on O&G related stocks but cautioned that this may only be temporary as the US will release some of its inventory into the market until Saudi’s production resumes to normal level which is estimated to take several months.
  • Locally, we expect the FBM KLCI to re-test the 1,610 mark as we noticed that foreign funds had been trickling in of late. Last week saw an encouraging RM495m of net foreign inflow.
Weekly Market Review (17 Sept 2019)
  • Major stock markets mostly posted weekly gain last week following the fresh stimulus from European Central Bank imposing quantitative easing to boost eurozone economy. Brent crude oil price also saw a surge to a high of US$72 after the attack on Saudi Arabia oil site.
  • In local market, the FBM KLCI gained 0.34% to 1,601.25. Weekly foreign funds turned positive to RM192.1m of net inflow. Performance amongst the FBMKLCI components saw 14 gainers to 12 losers.
  • Top 3 performers include PCHEM (+5.86%), PETDAG (+4.95%) and AXIATA (+3.89%) while the 3 losers were IHH (-1.91%), TENAGA (-1.57%) and DIALOG (-0.85%).   
Daily Market Report (13 Sept 2019)
  • Things may have turned positively amid easing of stance from the US and the QE by the European Central Bank. Nonetheless, until the situation becomes more concrete, we remain cautious on the financial markets as the US are masters of flip-flopping.
  • Currently, we are witnessing a flight into equities as investors are continuing to ease their holdings in bonds. With the western world now clamouring for lower interest rates, foreign funds are also finding their way into Asia as depicted by the stronger Asian currencies.
  • Locally, the MYR have strengthened to the 4.16 level from 4.22 against the USD earlier this month.
Daily Market Report (12 Sept 2019)
  • It is going to be an interesting few weeks as both the US and China are showing signs of relenting from their tariff war. Meanwhile President Trump urged the Federal Reserves to further lower the rates to near zero which many may view as a boost to the equity market.
  • Locally we may see buying on the local bourse to continue from yesterday’s uptrend as foreign funds seems to have made a U-turn on Malaysian equities. We maintain on cautious mode and anticipate the FBM KLCI to see some resistance at the 1,610 level.
Daily Market Report (11 Sept 2019)
  • The US 10-year Treasury yield rebounded to a high of 1.73% having touched a low of 1.45% only a week ago. Such volatility on the yields has been rarely seen suggesting more market volatility ahead within the financial markets.
  • Meanwhile, we are indeed dismayed with the breakdown of the potential merger between Telenor and Axiata as this will put additional pressure on the local markets which is in dire need of some solid catalysts.
  • As a result, foreign investors have been shunning the local bourse despite trading at reasonable valuations currently. Year to date, net foreign outflow remains persistent totalling RM7.4bn thus far.