Daily Market Report (26 Sept 2019)
  • News on potential trade deal in the horizon as comments by Trump saw the Dow Jones recover to close higher after falling as threat of impeachment looms.
  • On the local front, the decision by FTSE Russell on Malaysia government bond’s participation in the World Government Bond Index decision will be an important event to look out for today.
  • Our FBM KLCI is expected to be range bound hovering close to 1,600 level as the regional markets are expected to take cue from the higher close in US markets last night.
Daily Market Report (25 Sept 2019)
  • Funds continued with their exodus from equities as investors are heading for safer haven like Treasuries. As a result, the US 10-year yield had declined to 1.65% from above the 1.90% level only 2 weeks ago.
  • If this persists, the 10-year yield may re-test the 1.50% threshold anytime soon. Domestically, there are murmurings that Budget 2020 may look to lowering corporate tax which will be a solid booster if true.
  • We expect it will be another nonchalant trading day with the FBM KLCI to trend between the 1,585 and 1,595 range as regional bourses are seen to weaken today.
Daily Market Report (24 Sept 2019)
  • We view Budget 2020 as one of the most crucial over the past years for the revival of the ailing domestic economy and sentiments.
  • A lot has been said about the wish list and we believe it is time the authorities take heed of what is really required with implementation of some radical measures namely revisiting the likes of improving liquidity within the financial sector which has been drastically missing over the past years.
  • Therefore, if Budget 2020 is just another sitting on the fence attempt, we reckon the agony would only be prolonged.
Daily Market Report (23 Sept 2019)
  • Uncertainties continue to plague the global financial markets as interest rates are expected to be the major determinant over the course of next few months. As many are expecting the Federal Reserves to further cut rates, the ECB is also seen to be biased towards a lower rate regime.
  • Meanwhile, the US 10-year Treasury yield had declined to 1.72% from above the 1.90% level only a week ago as funds returned Treasuries at the expense of equities with the DJI Index closed almost 160 points lower last Friday.
  • All said, we can expect another boring day on the local bourse with the FBM KLCI expected to trend between the 1,595-1,605 range today.
Weekly Market Review (23 Sept 2019)
  • Major stock markets ended in negative territory last week, except for Indonesia’s JCI which posted a weekly gain of 0.2%. Hong Kong’s Hang Seng Index dropped 688.9 points to 26,447 level weighed down by the ongoing protest.
  • Brent crude oil price finished at USD64.3/bb lifted by the Middle East tension. Locally, the FBM KLCI lost 0.43% or 6.9 points to 1,597.4. Weekly foreign funds turned negative to RM249.3m of net outflow.
  • Performance amongst the FBMKLCI components saw 9 gainers to 20 losers. Top 3 performers include AMBANK (+2.68%), AIRPORT (+2.22%) and PETGAS (+1.22%) while the 3 losers were GENM (-4.69%), KLK (-2.21%) and HLFG (-2.18%).