Market Reports

Daily Market Report (1 November 2022)
Daily Market Report (1 November 2022)
  • As expected, Wall Street closed lower as sentiment turned cautious ahead of the Federal Reserves meeting over the next 2 days.
  • The DJI Average lost 129 points while the Nasdaq declined by 114 points as the US 10-year yield inched higher at 4.05%.
  • Back home the FBM KLCI ended at a 1-month high of attributed to some bargain hunting activities.
  • Though we reckon trading may be rather subdued today with eyes on the rate hikes in the US.
  • Nonetheless, we expect the index to trend between the 1,455-1,470 range today as buying should continue on local equities in particular on Banks and Telco related stocks.
  • Meanwhile, we believe Bank Negara may look to hike rate by 25bps during the Monetary Policy Committee (MPC) meeting on Wednesday and Thursday hence should provide catalyst on the Banking stocks.
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Daily Market Report (31 October 2022)
Daily Market Report (31 October 2022)
  • Wall Street surged as all 3 major indices closed steeply higher as traders are hoping that the Federal Reserves will be less aggressive with rate hikes going forward.
  • The DJI Average added a massive 828 points while the Nasdaq gained 310 points after a week-long decline as the US 10-year yield remained at the 4.0% mark.
  • Whether such uptrend is sustainable remains to be seen.
  • At home, the FBM KLCI dipped below the 1,450 level due to some foreign selling.
  • Reflecting the buoyant US market, we reckon regional markets to climb higher today and expect the local bourse to do the same as well.
  • Therefore, we anticipate the index to trend between the 1,450-1,70 range today with interests on the Banks and Technology sectors.
  • On the flipside, Plantation stocks may see some profit taking as the crude palm oil dipped to below the RM4,000/tonne.
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Daily Market Report (28 October 2022)
Daily Market Report (28 October 2022)
  • Wall Street closed mixed after another volatile session as investors mulled the Federal Reserve’s path of interest-rate hikes while assessing mixed economic data and a slew of earnings reports.
  • Meanwhile, the Dow climbed nearly 200 points for its fifth day of wins as he US economy grew at a 2.6% annualized pace for the period, against the economists estimate of 2.3% growth.
  • Back home, the FBM KLCI closed in negative territory due to some minor corrections although the broad market was slightly higher.
  • We maintain our positive view over the local market given the strong support from the local institutions and anticipate the FBM KLCI to trend within a wider range of 1,450-1,470 for today with buying mainly on banking, plantation and telco stocks while we reckon the poor performance on Nasdaq may have some negative impact on tech stocks today.
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Daily Market Report (27 October 2022)
Daily Market Report (27 October 2022)
  • Wall Street closed mixed after a choppy session as traders continue to adjust to the prospect of less severe rate hike amid the decline in economic activities in the US.
  • The DJI Average added a mere 2 points while lacklustre quarterly results from Microsoft and Alphabet saw Nasdaq declined by 228 points as the US 10-year yield eased to just above the 4.0% mark.
  • At home, the FBM KLCI finally breached the 1,450 level underpinned by buying support from local institutions.
  • For today, we reckon the local bourse to continue with its uptrend attributed to the easing US yields which will relieve fears of higher interest rates regionally.
  • As such, we expect the index to hover between the 1,450-1,465 level today with buying interests returning to Banks.
  • Meanwhile, the Brent crude climbed to above the USD95/barrel on weaker USD despite the slowing global demand.
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Daily Market Report (26 October 2022)
Daily Market Report (26 October 2022)
  • Wall Street trended higher on hopes that the Federal Reserves will be less aggressive in raising rates from signs that the US economy is cooling down.
  • The DJI Average jumped by 337 points while the Nasdaq added 246 points as the US 10-year yield eased to 4.10%.
  • On the local front, the FBM KLCI fell marginally after a week of strong performance.
  • We reckon the index to rebound today following solid signs from Wall Street and expect it to trend between the 1,440-1,455 range today.
  • Buying interests is anticipated to return on Technology related stocks amid the falling US yields.
  • Meanwhile, a weaker USD saw the Brent crude closing higher at above the USD93/barrel mark.
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