Market Reports

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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Daily Market Report (30 March 2021)
Daily Market Report (30 March 2021)
  • Sentiments on Wall Street turned cautious as the US 10-year treasury yield closed higher crossing the 1.7% mark.
  • Though the DJI Average ended the session on another record high at 33,171 with a gain of almost 100 points, both the S&P 500 and Nasdaq tumbled.
  • Amid the heightened volatility of equities, we reckon regional markets to be rather mixed today after 2 days of solid performances.
  • Back home, the FBM KLCI performance yesterday took us by surprise with the help of some foreign buying.
  • Though we believe the index to experience some headwind with the 1,615 being the immediate resistance level, news that Malaysia will retain its membership in the FTSE World Government Bond Index may lift buying interests.
  • Therefore, we anticipate foreign funds to maintain their inflows hence the index may even attempt to break the 1,620 level today.
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Daily Market Report (29 March 2021)
Daily Market Report (29 March 2021)
  • US equities surged on hopes that economic reopening will occur sooner rather than later as traders emerged to accumulate on recovery stocks again.
  • As a result, the DJI Average jumped 450 points to above the 33,000 level whilst the S&P 500 climbed 1.7% to almost the 4,000 mark.
  • Hence, we can expect regional markets to maintain their uptrend today following last Friday’s firm closing.
  • On the local front, we would expect the FBM KLCI to remain in consolidation mode as the recently concluded UMNO General assembly may have extended the uncertainty over the political landscape.
  • As a result, the benchmark index is expected to trend within the 1,595-1,605 range today. Nonetheless, we anticipate it to remain above the 1,600 mark today.
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Daily Market Report (26 March 2021)
Daily Market Report (26 March 2021)
  • It was another volatile session on Wall Street as all 3 major indices closed higher following a weak opening.
  • US equities are at a crossroads now between economic recovery and the loss of stimulus hence we can expect continued volatility ahead.
  • The DJI Average gained 199 points to above the 32,600 level, a swing of almost 500 points after losing 350 points at one point.
  • Though we can expect regional markets to experience some volatility, we noticed some foreign funds are trickling into Asia hence most will close firmer today.
  • Back home, the FBM KLCI may see ongoing consolidation and hover within a tight range of 1,595-1,605 today as investors will monitor developments on the UMNO Assembly over the weekend.
  • On a positive note, we noticed some accumulation from foreign funds yesterday.
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Daily Market Report (25 March 2021)
Daily Market Report (25 March 2021)
  • Sentiments on Wall Street remain jittery as all three major indices slumped following strong earlier sessions.
  • Despite the lower 10-year Treasury yield, the sell-off on tech stocks were unrelenting as the Nasdaq lost 2% or 266 points while the DJI Average declined 3 points after a 300-point gain.
  • As such, we reckon regional markets to continue with their consolidation amid the heightened volatility today.
  • On the home front, we expect the FBM KLCI to possibly experience bargain hunting momentum to continue albeit in a more muted manner.
  • Therefore, we believe the index to again trend within a narrow range of within the 1,595-1,605 range today.
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