Daily Market Report (12 June 2019)
  • Oil prices continue to be volatile impacted by both the demand and supply. D
  • Despite the move to reduce supply, crude oil price remain off their peak as the ongoing US/China trade spat has had affected demand to decline amid an expected slowing global economy.
  • As a result, Brent has dropped to US$61.50 a barrel from US$72.50 in mid-May with the WTI easing to US$52.50 from US$63.00 over the same period. There remain a lot of uncertainties thus we anticipate crude price to be volatile over the immediate term.

 

Daily Market Report (11 June 2019)
  • Equities may be back in favour judging by the resurgence of major global indices.
  • The Dow Jones Industrial Index have had an impressive rebound from below 25,000 to now 26,062. Similarly, regional markets also staged a rebound of sorts.
  • We believe this uptrend to persists in view of expectations that the Federal Reserves may be looking to reduce interest rates which have already been reflected from the downtrend of the US 10-year Treasury rates now at 2.15% from the high of 2.80% earlier this year.

 

Daily Market Report (10 June 2019)
  • How things have changed. What were perceived as a “SELL” market only 2-3 weeks ago, is now viewed with much aplomb. We reckon the US/China trade war may be getting stale and that investors are becoming more immune to such developments.

 

  • Nonetheless, we believe market volatility still prevails but to a much lesser extent. Today, regional markets are anticipated to trend higher following Wall Street’s uptick. Domestically we see the FBM KLCI to remain firm with the immediate resistance at around the 1,670 mark.

 

Weekly Market Review (10 June 2019)
  • Major markets closed mixed last week amid the continuing tension between the US and China coupled with the Eid Mubarak break in certain countries. The DJI staged an impressive rebound of 4.7% or almost 1,200 points to almost 26,000 with the hope that the feds may cut rates again soon.
  • The local bourse experienced a mild profit taking ahead of the Raya break. The FBM KLCI lost a mere 0.4% or 6 points for the week to 1,649.33. Finally, foreign funds flow turned positive for the 2nd week running of RM350.0m with YTD net outflow down to RM4.47bn.
  • Performance amongst the FBMKLCI components saw 9 gainers to 18 losers. Top 3 performers include Top Glove (+1.2%), PPB (+1.0%) and Nestle (+0.7%) while the top 3 losers were Genting (-2.8%), Sime (-2.2%) and SIMEPLT (-1.7%).
Daily Market Report (7 June 2019)
  • US Dow Jones has rebounded close to 1,000 points for the last three trading sessions on the back of Federal Reserve Chairman Jerome H. Powell saying the central bank is prepared to act to sustain economic expansion if President Trump trade was weakened the economy. The comments were interpreted as such that interest rate cuts could be on the cards.
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  • Foreign net buying has turned positive for the 4th straight day which is a good sign. 

 

  • As this is a shortened trading week for Malaysia with Raya Eid celebrations, we expect our market to also be in holiday mood and will see sporadic trading activity.