Daily Market Report (15 December 2021)
  • US equities closed lower on expectations that the Federal Reserves will hike rates sooner than later.
  • Meanwhile, the spread of Omicron variant has also raised concerns over the recovery of global economy.
  • As such, the DJI Average lost 107 points in a volatile session whilst the Nasdaq shed 176 points to below the 15,300 mark.
  • Back home, regional volatility saw more selling on the local bourse as the FBM KLCI closed at a 52-week low.
  • Despite the market is ripe for some bargain hunting activities, weak market undertone may see the local bourse’s performance to remain underwhelming.
  • Amid the heightened market volatility, we expect the index to hover within the 1,475-1,485 today.
Download
Daily Market Report (14 December 2021)
  • Wall Street slumped as traders revisited impacts from Omicron variant coupled with the Federal Reserves announcement on Wednesday.
  • The DJI Average lost 320 points whilst the Nasdaq shed almost 220 points to below the 15,500 level.
  • On the domestic front, the FBM KLCI briefly managed to breach the 1,500 mark but succumbed to late profit taking activities.
  • Window dressing plus bargain hunting may continue on the local bourse today but we reckon regional volatility will play a huge part on today’s performance.
  • Hence, we expect the index to trend between the 1,490-1,500 range today.
  • Meanwhile, crude palm oil continues to surprise analysts as price remains elevated at RM5,250/tonne.
Download
Daily Market Report (13 December 2021)
  • US equities ended broadly higher ignoring inflation in the US that recorded a 39-year high which may hasten the Federal Reserves tapering process.
  • The DJI Average closed 216 points higher to almost the 36,000 mark while the Nasdaq jumped by 113 points.
  • Back home, the FBM KLCI closed broadly lower amid regional markets’ weaknesses.
  • Recent surge in Omicron cases globally will translate to heightened market volatility thus we reckon trading on the local bourse to remain lukewarm as window dressing activities may be muted by the continuous foreign selling.
  • Cautious sentiments and the lack of buying catalysts suggest the index to remain under pressure as we anticipate it to trend around the 1,485-1,495 range today.
Download
Daily Market Report (10 December 2021)
  •  Wall Street halted its rebound as traders shifted their attention to inflation and the Federal Reserves tapering.
  • The DJI Average closed flat after swinging within a 300 point range whilst the Nasdaq lost almost 270 points.
  • On the local front, window dressing activities helped the FBM KLCI to close above the 1,500 mark. Nonetheless, as foreign selling gathers momentum we reckon the index to encounter numerous headwinds going forward.
  • Therefore, we do not expect the FBM KLCI to see any major movements thus anticipate it to trend within the 1,495-1,505 range today amid heightened market volatility.
  • Meanwhile, the Brent crude prices dipped to below the US$75/barrel on concerns over possible impact from the new Covid variant.
Download
Daily Market Report (9 December 2021)
  •  US equities closed firmer as traders continue to see that impact from the new Covid variant may not be as serious as previously thought.
  • The DJI Average ended 35 points higher at around the 35,800 level while the Nasdaq gained 100 points at almost the 15,800 mark.
  • Meanwhile, sentiments on the home front remained weak as the FBM KLCI closed lower amid some profit taking activities.
  • Judging by the weak market undertone and the lack of buying catalysts, we reckon the index to trend within the 1,490-1,500 range today.
  • Crude palm oil (CPO) closed lower at RM5,270/tonne amid the weaker soya prices.
Download