Market Reports

Daily Market Report (17 May 2021)
Daily Market Report (17 May 2021)
  • US equities ended the week higher following a rollercoaster performance.
  • The DJI Average jumped 360 points to around 34,382 while the tech heavy Nasdaq gained 305 points to 13,430.
  • With Wall Street volatility remains high we reckon regional markets to stay muted today amid some bargain hunting.
  • On the local front, we expect some bargain hunting activities to prevail hence expect the FBM KLCI to trend within the 1,580-1,590 today.
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Daily Market Report (12 May 2021)
Daily Market Report (12 May 2021)
  • Inflation and high valuations are returning to haunt traders as profit taking activities took place in a major way. The selling of Nasdaq was rather drastic before the tech index settled 12 points lower at 13,389.
  • Meanwhile, the DJI Average slumped 473 points to close at 34,269. We reckon heightened market volatility may continue to see regional markets to be muted today.
  • On the home front, the FBM KLCI is expected to weaken as the new reinstated MCO 3.0 may add some uncertainty to the economic recovery. Therefore, we expect the index to hover around the 1,570-1,580 today.
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Daily Market Report (11 May 2021)
Daily Market Report (11 May 2021)
  • Wall Street slumped as traders sold down technology stocks and took profit on growth stocks.
  • The DJI Average lost 35 points to close at 34,742 whilst the Nasdaq declined by 350 points to end at 13,401.
  • In view of this, we reckon regional markets to remain muted today.
  • As for the local bourse, the FBM KLCI continue to decline following announcement of nationwide MCO 3.0 which should last until June.
  • Therefore, we believe the FBM KLCI to hover around the 1,580-1,590 today.
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Daily Market Report (10 May 2021)
Daily Market Report (10 May 2021)
  • Fuelled by excess liquidity, traders even ignore the disappointing job data for April as Wall Street surged to another record close.
  • The DJI Average gained 229 points to close around the 34,777 mark whilst the Nasdaq rose 119 points to 13,752 level.
  • Whether regional markets will see such optimism today remains to be seen but we reckon US equities are trending at dangerous levels at the moment.
  • On the home front, the FBM KLCI finally close higher as the index jumped closer to the 1,590 level as we hope such bargain hunting is sustainable.
  • Therefore, we expect the index to possibly test the 1,590 today and hover within the 1,590-1,595 range today.
  • Do keep an eye on the plantation stocks today as the crude palm oil prices is looking interesting again with price now hovering RM4,800/mt levels.
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Daily Market Report (7 May 2021)
Daily Market Report (7 May 2021)
  • Wall Street ended higher with the Dow registered back-to-back record closes supported by strong corporate earnings and while investors are expecting continuous improvement in the US job market.
  • The DJIA jumped 318.19 points, or 0.9% to close at 34,548.53. The S&P 500 rose 0.8% to 4,201.62 while Nasdaq erased earlier losses and gained 0.4% to 13,632.84.
  • Key regional indices also ended in positive note after strong rally in US stock market earlier.
  • Back home, stocks rebounded after mid-day break mainly due to some bargain hunting activities.
  • The FBM KLCI ended 2.66 points higher to close at 1,578.33.
  • We expect the local market to remain in consolidation mode due to lack of catalysts and expect the FBM KLCI to hover in the range of 1,575-1,585.
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