Daily Market Report (30 December 2021)
  •  Wall Street’s Santa Claus rally ended on a mixed note yesterday as trading was rather muted.
  • The DJI Average rose 90 points to almost the 36,500 level whist the Nasdaq ended in the red with a loss of 15 points on the back of higher 10-year US Treasury yield which jumped above 1.55%.
  • On the home front, window dressing activities continued as the FBM KLCI closed higher from last minute buying activities.
  • Though we reckon buying to persist, the index may face with some headwinds as the benchmark index had risen by 65 points over the past 2 weeks.
  • Nonetheless, we expect the index to trend around the 1,540-1,550 today from bargain hunting activities as it is still down by 5% year to date.
Daily Market Report (29 December 2021)
  • Wall Street ended mixed as profit taking took place following a record breaking run.
  • The DJI Average jumped 96 points to almost the 36,400 mark while the Nasdaq lost almost 90 points.
  • We reckon sentiments may turned cautious amid the surge in Omicron cases globally hence heightened market volatility.
  • On the home front, the FBM KLCI continued with its uptrend buoyed by window dressing activities to end up on a 2-month high.
  • Though we expect ongoing bargain hunting to continue, sentiments may turn lukewarm ahead of a more volatile regional performance.
  • As such, we expect the index to trend around the 1,535-1,545 range today.
  • Meanwhile, crude oil prices remained high with the Brent currently trading near the US$80/barrel.
Daily Market Report (28 December 2021)
  • US equities surged despite the spike in Omicron variant cases in the US as many see the risks to be less severe than earlier expected.
  • The DJI Average gained 350 points to above the 36,000 mark whilst the Nasdaq jumped by 218 points.
  • Amid the continuous rally on Wall Street, we reckon regional markets to perform better today.
  • On the home front, bargain hunting cum window dressing activities continued to push the FBM KLCI to almost a 2-month high.
  • We believe buying interests to remain on the blue chips hence the index to hover within the 1,530-1,540 range today.
  • Meanwhile, declining stocks in the US has pushed crude prices higher with the Brent crude currently trending closer to the US$79/barrel level.
Daily Market Report (27 December 2021)
  • Wall Street was closed for the Christmas holidays.
  • As for the local bourse, last minute buying activities helped push the FBM KLCI to end on a flat note having been in the negative territory for best part of the day.
  • Despite a mixed regional performance, we reckon window dressing activities continued to play its part.
  • For today, we anticipate bargain hunting may continue amid sentiments to remain cautious thus expect the index to trend within the 1,510-1,520 range today.
  • Meanwhile, crude palm oil (CPO) price had breached the RM5,000/tonne to end at RM5,125/tonne whilst the Brent crude price stayed elevated at above the US$76/barrel.
Daily Market Report (24 December 2021)
  •  Wall Street continued with its Santa Claus rally as concerns over the Omicron variant recede.
  • The rally was broad based as all 3 major indices surged with the S&P 500 closed at a new record high.
  • The DJI Average added almost 200 points whilst the S&P 500 jumped by 30 points.
  • On the local front, the FBM KLCI close at a 1-month high buoyed by bargain hunting coupled with some window dressing activities.
  • We believe the benchmark index to possibly continue with its uptrend today amid a more vibrant regional performance.
  • Nonetheless, profit taking activities could set in thus we expect the index to trend within the 1,510-1,520 range today.
  • Meanwhile, crude oil prices also benefitted from the lower Omicron threat as the Brent crude inched closer towards the US77/barrel level.