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.
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Daily Market Report (8 December 2021)
  • Wall Street continued with its uptrend as traders largely ignored threats from the new Covid variant even though the situation in Europe is becoming more dire.
  • The DJI Average jumped by almost 500 points whilst the Nasdaq surged 460 points to almost the 15,700 level.
  • Locally, the FBM KLCI reversed its recent weak performance as bargain hunting activities helped push the index closer to the 1,500 mark.
  • For today, we believe the index to break above the 1,500 level buoy by a more robust regional markets.
  • Nonetheless, we reckon market volatility to remain high thus anticipate the index to hover around the 1,495-1,505 today.
  • As concerns over Omicron subsides coupled with ongoing tension between the US and Russia, the Brent crude prices broke above the US$75/barrel level.
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Daily Market Report (7 December 2021)
  •  Wall Street rebounded as traders shook off concerns over the Omicron variant.
  • The DJI Average gained 647 points to close above the 35,500 level whilst the Nasdaq jumped by almost 140 points.
  • Back home, sentiments have turned nervy as selling gathered momentum pushing the FBM KLCI to a 52-week low. In view of this, we believe market undertone to remain weak although we expect some bargain hunting to emerge today.
  • Thus, we reckon the index to trend within the 1,480-1,490 range today.
  • Meanwhile, crude oil prices improved as the Brent closed above the US$73/barrel following Saudi Arabia’s move to increase its crude price.
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Daily Market Report ( 6 December 2021)
  •  Disappointing job data for November coupled with the threat from Omicron variant continued to unsettle sentiments as all 3 major indices closed lower.
  • The DJI Average declined by 60 points after trending within a 600 point range. The Nasdaq fared even worse closing almost 300 points lower at around the 15,000 level.
  • On the home front, we reckon bargain hunting activities to prevail following a weak performance last week dipping below the crucial 1,500 mark.
  • Though regional volatility will continue to hassle the local bourse, we reckon the index to hover within the 1,495-1,505 range today.
  • Meanwhile, crude oil improved slightly with the Brent now trending at above the US$71/barrel having touched the US$68/barrel last week.
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Daily Market Report ( 2 December 2021)
  •  Worries over Omicron detected in the US reversed early gains for all 3 major indices on Wall Street as sellers came out in droves.
  • The DJI Average lost 462 points to settle at the 34,000 level while the Nasdaq declined by 284 points.
  • In view of the heightened volatility, we believe regional markets to follow suit today as sentiments may have turned jittery.
  • On the local front, we expect the FBM KLCI to oscillate between the 1,495-1,505 today as our low valuation may act as a buffer to the externalities.
  • We expect trading to remain low today as investors may be sidelined with focus possibly be back on glove related stocks.
  • Meanwhile, the emergence of the new Covid variant have also seen crude oil price weakened with the Brent crude now retreated to below the US$70/barrel.
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