Market Reports

Daily Market Report (6 April 2021)
Daily Market Report (6 April 2021)
  • Wall Street closed at record high again as traders are optimistic of a swift US economic recovery from the pandemic.
  • The DJI Average was up 374 points to breach the 33,500 level whilst the S&P 500 closed 58 points higher at almost the 4,100 mark.
  • As such, we believe regional markets to maintain their uptrend today after a rather strong performance yesterday.
  • Back home, though the FBM KLCI closed marginally lower yesterday, we expect bargain hunting to continue particularly from the foreign funds albeit at a muted manner.
  • Despite the ongoing market consolidation, we believe the benchmark index to test the 1,590 level and beyond today.
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Daily Market Report (5 April 2021)
Daily Market Report (5 April 2021)
  • Wall Street was closed last Friday but solid US job data pushed index futures higher.
  • US unemployment rate decline to 6% from 6.2% last month thus propped the DJI Average futures 160 points higher.
  • Meanwhile, the US 10-year Treasury yield also ended higher to 1.71% as the US economy continues to improve.
  • Therefore, we reckon market volatility may heighten.
  • Though some regional markets are closed today, regional performances should be rather mixed today.
  • On the local front, we reckon bargain hunting activities to persists in a cautious manner thus expect the index to hover within the 1,585/90 range today.
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Daily Market Report (2 April 2021)
Daily Market Report (2 April 2021)
  • Traders turned positive on Joe Biden’s infrastructure plan pushing US equities higher.
  • Whilst the DJI Average was up 170 points to pass the 33,000 mark again, the S&P 500 crossed the 4,000 level for the first time ever after jumping by 47 points. The Nasdaq also ended higher as the US 10-year yield retreated to around the 1.67%.
  • In line with this, we reckon regional markets to trend broadly higher today.
  • Meanwhile, the local bourse should also see accumulation on stocks as bargain hunting activities continue.
  • Therefore, we expect the FBM KLCI to trend higher today with the 1,590 as the immediate resistance.
  • However, as sentiments remains rather cautious, we expect the index to hover within the 1,585/90 range today.
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Daily Market Report (1 April 2021)
Daily Market Report (1 April 2021)
  • Traders digested Biden’s latest US$2 trillion infrastructure plans with mixed views as Wall Street ended mixed.
  • The package which will be funded by a hike in corporate tax hit sentiments as the DJI Average lost 85 points to close below the 33,000 mark whilst both the Nasdaq and S&P 500 closed higher despite the 10-year Treasury yield hitting above the 1.7% mark.
  • Amid the heightened uncertainty, we believe regional markets to continue with their downtrend today.
  • Back home, the FBM KLCI declined by a massive 36 points instigated by uncertainty over the political landscape.
  • Nonetheless, we reckon the selling could be overdone and expect some bargain hunting to emerge today.
  • We noticed foreign funds are also present with positive inflow yesterday thus anticipate the index to trend above the 1,580 level with the 1,570 as the immediate support.
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Daily Market Report (31 March 2021)
Daily Market Report (31 March 2021)
  • Sentiments on Wall Street continued to be jittery as the US 10-year Treasury yield remained high.
  • In fact, the 10-year yield almost touched the 1.8% mark before easing back to around 1.7%.
  • As a result, all three major indices closed lower.
  • On the domestic front, though the FBM KLCI closed lower yesterday we are pleased to see that foreign funds were buyers for the 2nd consecutive day.
  • With sentiments still on a cautious mode, trading activities on the local bourse has somewhat weakened.
  • As for the benchmark index, seems like it is still stuck in a consolidation mode hence anticipate to hover within the 1,605-1,615 range today.
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