Daily Market Report (6 January 2022)
  • Sentiments were jittery on Wall Street as traders anticipate a tighter monetary policy to combat inflation.
  • As a result, the DJI Average declined by 392 points to below the 36,500 mark while the Nasdaq fell even steeper by 3.3% or 522 points as the 10-year yield jumped to 1.7%.
  • As market volatility heightens, we reckon regional markets to remain mixed today.
  • At home, the FBM KLCI was buoyed by bargain hunting activities and we expect this to continue.
  • Despite the regional headwinds, we believe the index to trend around the 1,540-1,555 range today.
  • One positive aspect of the local bourse is that daily volume is improving with more than 4bn shares traded yesterday.
  • Meanwhile, crude palm oil was up to RM5,437/tonne on worries of lower output.
Daily Market Report (5 January 2022)
  • Wall Street closed on a mixed note amid the US recorded the highest daily Covid cases.
  • While the DJI Average gained 215 points to almost the 36,800 level, the Nasdaq lost 210 points as the 10-year yield stayed around the 1.65% mark.
  • Back home, the FBM KLCI lost ground again as selling continued in the absence of catalysts.
  • Though we expect bargain hunting activities to emerge anytime soon, overall interests remain rather muted.
  • Therefore, we anticipate the index to trend within the 1,540-1,550 today.
  • Meanwhile, concerns on the supply side had pushed crude palm oil higher to RM5,310/tonne while the Brent crude broke past the US$80/barrel.
Daily Market Report ( 4 January 2022)
  •  US equities closed higher on hopes that the US economy can overcome the surge in Covid cases.
  • The DJI Average gained 247 points to near the 36,600 mark while the Nasdaq jumped by 188 points.
  • Meanwhile, the US 10-year Treasury yield ended around the 1.64% level.
  • On the home front, we reckon some bargain hunting to emerge today following yesterday’s decline.
  • Therefore, we believe the FBM KLCI to trend higher at around the 1,550-1,560 range today.
  • With expectations of hikes in interest rates imminent, banking stocks should be back into the limelight going forward.
  • Meanwhile, it would be interesting to see if the crude palm oil can maintain its high pricing this year as it closed at RM5,258/tonne yesterday.
Daily Market Report (3 January 2022)
  • Wall Street ended 2021 on a low as all three major indices closed in negative territory.
  • The DJI Average lost 60 points whilst the Nasdaq declined by almost 97 points.
  • 2022 is expected to be a tougher year for US equities amid the Federal Reserves’ tightening monetary policy thus market volatility is anticipate to increase.
  • Back home, the FBM KLCI ended 2021 on a high from last minute buying.
  • However, we believe the index to face with some selling down due to the lack of buying catalysts and see the index to hover within the 1,550-1,560 range today.
  • Meanwhile, both the crude palm oil and crude oil prices remain elevated currently at RM5,159/tonne and US$78.26/barrel respectively.
Daily Market Report (31 December 2021)
  •  Major indices on Wall Street all closed lower despite a better than expected job data as trading remained thin.
  • The DJI Average lost 90 points whilst the Nasdaq was down 25 points. We reckon market volatility to persist regionally as we head towards the final trading day for 2021.
  • Back home, the FBM KLCI closed marginally lower amid some profit taking activities.
  • We believe some window dressing may continue and expect the index to hover between the 1,540-1,550 range today.
  • Meanwhile, confirmation of a RM1,000 cap on stamp duty is certainly good news for the local bourse and we expect this should boost overall trading activities.