Market Reports

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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Daily Market Report (6 May 2021)
Daily Market Report (6 May 2021)
  • Wall Street closed higher as traders buoyed by economic optimism on the back of more solid corporate earnings.
  • The DJI Average gained 97 points to closed at 34,230 whilst the Nasdaq continue with their slump by 51 points at around 13,580.
  • As volatility heightened, we reckon regional markets to be rather muted today.
  • On the home front, we believe the FBM KLCI to stay stuck in its consolidation mode and to hover within a narrow range of 1,570-1,580 albeit some bargain hunting activities today.
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Daily Market Report (5 May 2021)
Daily Market Report (5 May 2021)
  • US equities were broadly lower as traders took opportunity to profit take as many deem Wall Street valuations to be on the high side.
  • Whilst the DJI Average gained 20 points to close at around the 34,133 level, tech stocks bore the brunt of the selling with the Nasdaq declined 261 points.
  • As such, we reckon regional markets to be mixed today amid the spike up in Covid-19 cases.
  • On the domestic front, we expect the FBM KLCI to remain stuck in its ongoing correction and anticipate the index to hover around the 1,580-1,590 range due to the absence of buying catalysts.
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Daily Market Report (4 May 2021)
Daily Market Report (4 May 2021)
  • US equities surged on hopes of an earlier reopening of economic activities in the US.
  • As such, the DJI Average jumped 238 points to close above the 34,000 level again.
  • In view of this, we believe regional markets to potentially trend higher today following yesterday’s muted activities.
  • On the local bourse, the FBM KLCI is expected to continue with its consolidation.
  • The index is seen to hover around the 1,585-1,595 range today with anticipations of some bargain hunting activities.
  • Meanwhile, the crude palm oil prices ended April on a high averaging at RM4,220/metric tonne.
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