Market Reports

Daily Market Report (17 March 2021)
Daily Market Report (17 March 2021)
  • Profit taking activities emerged on Wall Street as traders took the opportunity to lock in profits ahead of the Feds statement today. With the 10-year yields hovering at 1.62%, traders are keeping a close eye on the Feds guidance on rates. The DJI Average lost 128 points to around the 32,825 level whilst both the S&P 500 and Nasdaq closed flat.
  • As such, we expect the regional markets to see some pullbacks today after yesterday’s positive performances.
  • For the local bourse, we reckon the FBM KLCI to remain positive on the presence of some bargain hunting activities especially the Plantation stocks as indicated by the 1% gain by the Plantation index yesterday.
  • Nonetheless, we expect the FBM KLCI to make small strides like yesterday and see it hovering around the 1,625/30 range today.
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Daily Market Report (16 March 2021)
Daily Market Report (16 March 2021)
  • Wall Street surged as traders are optimistic of the reopening of US economy soon with both the DJI Average and the S&P 500 closed on record highs.
  • The DJI Average was up 175 points to almost the 33,000 mark while the S&P 500 is closing in on the 4,000 level. As for the regional markets, we reckon performance today may be rather mixed as investors are wary of the buying exuberance over in the US.
  • On the domestic front, we believe the FBM KLCI to remain stuck within a trading band from the lack of strong buying interests.
  • Therefore, we expect to see the index to hover around the 1,620/25 levels today.
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Daily Market Report (15 March 2021)
Daily Market Report (15 March 2021)
  • Wall Street was rather mixed last Friday amid rising treasury yields. Optimism over the latest stimulus package was countered by inflationary fears as the 10-year US Treasury yields climbed to a 12-month high at 1.63%.
  • As a result, the DJI Average jumped to another record high at 32,780 whilst the Nasdaq lost 79 points. We believe regional markets to react positively today but may be muted from rates concern.
  • On the home front, we reckon the FBM KLCI to see further consolidation following some strong selling since last Wednesday.
  • Therefore, we expect the index to trend around the 1,610/20 range today as interests may centre on the smaller caps today as volume traded is slowly creeping up.
  • Meanwhile, both the crude palm oil (CPO) and crude oil prices remain bullish which should be positive on the Malaysian economy.
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Daily Market Report (12 March 2021)
Daily Market Report (12 March 2021)
  • US equities continued with their record breaking run as Biden signed the US$1.9 trillion relief package. With sentiments riding high, the DJI Average was up 190 points to almost the 32,500 mark.
  • As such, we believe regional markets will continue with their positive performances as per yesterday’s.
  • Back home, we were quite surprised by the decline of the FBM KLCI due to profit taking activities. Nonetheless, we reckon bargain hunting to emerge today thus the benchmark index is expected to reverse yesterday’s losses and trend around the 1,635/40 level.
  • Meanwhile, the Brent crude had again closed in the US$70/barrel level whilst the crude palm oil (CPO) remains firmly above the RM4,000/metric tonne.
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Daily Market Report (11 March 2021)
Daily Market Report (11 March 2021)
  • Easing bond yields coupled with a new stimulus package boosted buying on US equities as the DJI Average closed on a new record high after gaining more than 460 points at almost the 32,300 level.
  • However, the Nasdaq was flat as profit taking crept in. On the domestic front, we believe the FBM KLCI to continue with its impressive performance which gained 2.5% since the start of the week.
  • Barring any profit taking on the glove stocks, we expect the benchmark index to potentially test the 1,650 mark supported by broad based buying.
  • Meanwhile, we noticed plantation stocks were again largely ignored by the investing community amid the crude palm oil (CPO) price staying above the RM4,000/metric tonne as seen from the performance of the Plantation index which declined 1.5% since the beginning of this year.
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