Market Reports

Daily Market Report (13 April 2021)
Daily Market Report (13 April 2021)
  • Wall Street closed mostly weaker as traders were sidelined ahead of corporate earnings for the first quarter and inflation data.
  • All 3 major indices closed marginally lower with the DJI Average down 55 points to 33,745.
  • Therefore, we reckon trading on regional markets to be rather mixed today.
  • As for the local bourse, we believe the FBM KLCI to remain stuck within a narrow range today as we enter into the fasting month.
  • With the lack of buying catalysts and that trading activities expected to be quiet, we anticipate the index to hover within the 1,600-1,610 today.
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Daily Market Report (12 April 2021)
Daily Market Report (12 April 2021)
  • Increasing optimism on the reopening of the US economy has attracted more funds to equities as Wall Street closed on record high last Friday.
  • The DJI Average jumped by almost 300 points to inch closer to the 34,000 mark whilst the S&P 500 gained 32 points to breach the 4,100 level.
  • As such, we expect regional markets to show a better performance today having closed lower last Friday.
  • On the domestic front, we anticipate the FBM KLCI to trend higher as well following a strong performance last week.
  • Buoyed by the proposed M&A between Axiata and DIGI, we expect the move may kickstart more of such corporate developments to revive the ailing local bourse.
  • Notwithstanding the political scene, we reckon the index to possibly breach 1,615 and looking to test the 1,620 level today.
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Daily Market Report (9 April 2021)
Daily Market Report (9 April 2021)
  • Wall Street achieved yet another solid performance as traders were convinced that the US economy is on a right recovery track.
  • Positive statements from Federal Reserves chairman Powell further fuelled buying activities as the DJI Average gained 57 points to close above the 33,500 level while the Nasdaq surged 140 points amid the declining treasury yields.
  • Therefore, we believe regional markets may continue with their uptrend with an eye on the escalating tension between China and the US in the South China Sea.
  • As for the local bourse, we reckon the FBM KLCI to experience more upside today predominantly from the resumption in trading for both DIGI and Axiata following the announcement of a possible merger in their mobile businesses.
  • As such, we expect the index to potentially hitting the 1,610 mark today provided interests on rubber glove stocks remain.
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Daily Market Report (8 April 2021)
Daily Market Report (8 April 2021)
  • Cautious optimism returned on Wall Street buoyed by the Federal Reserves ongoing accommodative policies.
  • Though the Nasdaq was down slightly, the S&P 500 closed on another record high whilst the DJI Average was up 16 points to almost 33,450.
  • As such, we reckon regional markets to remain mixed on the absence of any clear buying catalysts.
  • On the home front, it would be interesting to see if the FBM KLCI is able to sustain above the 1,600 today after a last minute spike-up yesterday.
  • Nonetheless, we believe sentiments to stay tepid and expect the index to trend within the 1,595-1,605 today.
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Daily Market Report (7 April 2021)
Daily Market Report (7 April 2021)
  • Wall Street took a breather following a record breaking run as profit taking activities emerged.
  • The DJI Average lost almost 100 points to close around the 33,400 level whilst both the S&P 500 and Nasdaq closed flat.
  • In view of this, we believe regional markets to remain mixed today despite the futures showed some mild rebound.
  • On the local front, the FBM KLCI closed below the 1,580 mark as market consolidation continues.
  • The lack of fresh catalysts coupled with some offloading by foreign funds has kept market undertone weaker.
  • As such, we reckon the index to be stuck within the 1,575-1,585 range today as sentiments remain cautious.
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