Market Reports

Daily Market Report (17 Feb 2021)
Daily Market Report (17 Feb 2021)
  • Wall Street took a breather as rising bond yields kept traders sidelined on concerns of possible higher borrowing costs.
  • Whilst both the S&P 500 and Nasdaq ended lower, the DJI Average closed 64 points higher to fresh record high at above the 31,500 mark.
  • On the domestic front, while the FBM KLCI again succumbed to late selling activities especially on the glove counters, we noticed that funds are shifting to smaller cap companies.
  • Though the FBM KLCI may see some recovery possibly to above the 1,610 level, surging trading volume is indicative that retailers are back in force.
  • We expect interests to remain on Oil & Gas stocks with the Brent crude staying above the US$63/barrel.
Download
Daily Market Report (16 Feb 2021)
Daily Market Report (16 Feb 2021)
  • Wall Street was closed for President’s Day yesterday. Nonetheless, optimism on US equities remain high with all three major indices futures currently trading at positive territory with the DJI Average futures now almost 180 points higher.
  • Thus, we expect regional markets to trend higher today buoyed by sustained buying momentum. On the local front, yesterday’s uptrend was broad-based hence we believe liquidity to continue playing its part to support the FBM KLCI today.
  • Therefore, we reckon the index to breach the 1,615 level today which formed a formidable resistant yesterday.
  • We could be in for a post Chinese New Year Rally.
  • Meanwhile, crude oil prices and Crude palm oil prices continue to stay solid with the Brent staying lose to the US$64/barrel while the CPO is hovering near the RM4,000/metric tonne.
Download
Daily Market Report (15 Feb 2021)
Daily Market Report (15 Feb 2021)
  • Wall Street ended higher on hopes of imminent economic recovery couple with possible pandemic relief package.
  • As a result, all three major indices closed at record highs with the DJI Average up 28 points to almost the 31,500 mark.
  • While most regional markets will reopen today after closing for the Lunar Chinese New Year festivities, we believe the local bourse will continue to trend higher today following a rather strong showing last week.
  • The FBM KLCI which was 21 points higher last week is seen to breach the 1,600 today with 1,610/15 as the immediate resistance.
  • Though interest is still lacking on the Oil & Gas stocks of late, we reckon with the Brent crude now trending above US$63/barrel may attract buying interests soon.
Download
Daily Market Report (11 Feb 2021)
Daily Market Report (11 Feb 2021)
  • It was a volatile day on Wall Street as traders were faced with possibility of a stimulus relief package delay as well as batches of corporate earnings.
  • Though both the S&P 500 and Nasdaq ended in the red, the DJI Average managed to hang on with a 62-point gain at above the 31,400 mark which is another record high.
  • On the domestic front, we would expect the local bourse to be rather subdue ahead of a long weekend for the Lunar New Year festivities.
  • Nonetheless, we reckon the FBM KLCI will continue to trend upwards and test the 1,600 level today with buying on rubber glove stocks to emerge after a series of trashings over the last few days.
  • Crude oil prices continue with its uptrend as the Brent has surpassed the US$61/barrel mark.
Download
Daily Market Report (10 Feb 2021)
Daily Market Report (10 Feb 2021)
  • Wall Street took a breather following a series of record breaking performances as reality over valuations sink in.
  • While both the DJI Average and S&P 500 closed slightly lower, the Nasdaq remained in positive territory.
  • As for the local bourse, we believe the buying momentum to continue after breaking out from its consolidation yesterday.
  • Therefore, we should see the FBM KLCI to test 1,590 thereafter around the 1,595 level today amid some degree of volatility as sentiments on glove counters remain rather fragile.
  • Meanwhile, crude oil prices remained resilient with the Brent crude now firmly above the US$60 level hovering at US$61.10/barrel currently.
  • For 2021, we expect Brent crude to possibly touch the US$65/barrel.
Download