Market Reports

Daily Market Report - 31 Dec 2024
Daily Market Report - 31 Dec 2024
  • Wall Street ended lower in a choppy session attributed to profit taking activities following a fantastic 2024 performance for US equities.
  • All 3 major indices opened in steep losses but managed to ease the damage towards the closing with the US 10-year yield easing slightly to 4.533%.
  • Over in Hong Kong, the HSI closed marginally lower but remains above the 20,000 mark as investors await for more clarity on the stimulus measures from Beijing while keeping an eye on the elevated US 10-year Treasury yield.
  • On the local front, the FBM KLCI maintained its uptrend as bargain hunting activities were rather apparent.
  • Though foreign outflows were evident, the quantum was easily absorbed.
  • As mentioned, with the 1,630 level broken, we expect the index to possibly target 1,650 thus anticipate it to hover within the 1,635-1,650 range today, hopefully to end 2024 on a more positive note.
  • Here’s wishing everyone a very HAPPY NEW YEAR
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Daily Market Report - 30 Dec 2024
Daily Market Report - 30 Dec 2024
  • Wall Street closed broadly lower fueled by tech stocks as uncertainties loom over Trump’s economic policy and tariffs.
  • Meanwhile, the US 10-year yield continues to stay elevated at 4.631%.
  • Over in Hong Kong, the HSI ended marginally lower having trended within a narrow range as investors are expecting for more stimulus measures following a poor run of Chinese industrial companies’ profits over the last few months.
  • Back home, the FBM KLCI managed to close higher to almost the 1,630 mark underpinned by stock accumulation across the board.
  • We believe the index may end 2024 on a higher note with the 1,650 level as the immediate resistance.
  • As such, we anticipate the benchmark index to hover within the 1,630- 1,640 range today.
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Daily Market Report - 27 Dec 2024
Daily Market Report - 27 Dec 2024
  • Wall Street ended little changed after a weak opening as the pre-Christmas buying fizzled out.
  • Meanwhile, the US 10-year yield remains high at 4.585%.
  • The Hong Kong market was closed for Boxing Day and will resume trading today.
  • On the home front, the FBM KLCI finally closed above the 1,610 level underpinned by bargain hunting activities.
  • Based on 2025 estimates, the local bourse is currently trading at a PE of almost 15x which is deem reasonable.
  • Nonetheless, daily volume traded remained low as foreign selling may be drying up, hence offer ample opportunities for the benchmark index to climb further, hopefully to above the 1,630 mark.
  • As such, we expect the index to possibly hover within the 1,610-1,620 range today.
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Daily Market Report - 26 Dec 2024
Daily Market Report - 26 Dec 2024
  • Wall Street managed to conjure up a mini Santa Rally as all 3 major indices ended positively ahead of the Christmas break.
  • Nonetheless, overall sentiment remains cautiously bullish as the US 10-year yield remains elevated at 4.591%.
  • Over in Hong Kong, the HSI broke the 20,000 mark amid a muted trading session as mainland investors went on a shopping spree on expectations that China will introduce more stimulus to spur economic growth.
  • Back home, the FBM KLCI closed higher at above the 1,600 level despite daily volume traded dwindling to around 2.0bn shares.
  • Though hints of bargain hunting were apparent, the local bourse is seriously in need of a major dose of liquidity.
  • Hopefully, the buying momentum will gather pace and carry the index higher into 2025.
  • Hence, we expect the benchmark index to hover within the 1,600- 1,610 today.
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Daily Market Report - 24 Dec 2024
Daily Market Report - 24 Dec 2024
  • Wall Street closed higher despite a weak opening as traders are confident of a Santa Rally amidst a shortened trading week.
  • Notwithstanding this, the US 10-year yield edged higher at 4.589%, and closing in towards the year high of around the 4.7% level.
  • Over in Hong Kong, the HSI jumped to almost the 19,900 mark as sentiment improves over Trump’s moderating stance on Tik-Tok which can be depicted as a major step in easing the tension between the US and China.
  • Back home, the FBM KLCI tried but failed to close above the 1,600 level due to hints of foreign selling within the local bourse.
  • Nonetheless, we are heartened that the selling is more subdued as illustrated by the low daily volume of only 2.4bn shares.
  • For today, we expect a muted trading day hence expect the index to hover between the 1,595-1,605 range.
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