Daily Market Report (3 July 2019)
  • Our Malaysian equity markets have seen some green shoots as KLCI has been steadily recovering to close at 1,691.00 and is likely to cross 1,700 points as we have seen five straight days of net foreign fund inflow amounting to RM468.8m into our markets recently.
  • We believe Maybank, which has been the laggard in the KLCI resurgence, should play catch up amongst the rise among the KLCI linked stocks. Currently trading at RM8.98 per share, Maybank is offering an attractive dividend yield of 6.35%.

 

 

Daily Market Report (2 July 2019)
  • Just as we though the trade was between the US and China is off the boil, in come another kick in the mouth as the US are now targeting the EU (European Union) with additional tariffs.
  • Though the amount may not be huge of US$4bn nonetheless, such move may create a certain degree of volatility to the financial markets. Domestically, sentiments are improving with more foreign fund inflows amounting RM114.4m yesterday.
  • Recall, that we mentioned of net foreign inflows by the 3Q this year and hope that this will be sustainable.
Weekly Market Review (2 July 2019)

Regional markets were all in positive territory with US markets hitting record high on the back of the trade war truce between US and China during the recent concluded G20. The DJI continued its positive close rising 0.64% or 169.21 points to 26,717.43.

The FBM KLCI continued its bullish run rising 7.01 points for the week to 1,683.62. Foreign funds flow were net positive for the week with RM308.79m inflow. Performance amongst the FBMKLCI components saw gainer 16 gainers to 12 losers.

Top 3 performers include PChem (+3.68), RHB (+3.58%) and Axiata (+3.00%) while the 3 losers were Maxis (-2.96%), PMetal (-0.90%) and HLFG (-0.64%).

Daily Market Report (1 July 2019)
  • The simmering trade war between the US and China may have seen to be off the boil at least for now. Though nothing concrete has been laid on the plate, many observers expect that both parties will resist in making anymore irrational moves on tariffs.
  • Therefore we believe investors are now less jittery and may be pouring funds back into equities. Meanwhile, Saudi Arabia and Russia agreed to cut oil production which should be positive to crude prices as the Brent jumped by US$1.20 to close at almost US$66/barrel.

 

Daily Market Report (28 June 2019)
  • All eyes will on the impending discussion between Trump and Xi during the G20 Summit today as many will be hoping for the end of the prevailing trade war.
  • Meanwhile with the Federal Reserve less dovish stance, we would expect investors to remain sidelined until a clearer picture emerges. Expect the FBM KLCI to trend at a narrow range of between 1,670-1,680.