Daily Market Report ( 1December 2021)
  •  Wall Street was spooked by fresh concerns over the Omicron variant coupled with the Federal Reserves statement to speed up its tapering to tackle inflation.
  • As a result, the DJI Average declined by 650 points to end below the 34,500 mark while the Nasdaq lost 245 points to close at 15,538 level.
  • On the home front, the FBM KLCI made some improvements despite market undertone remained jittery
  • . For today, we reckon the index to maintain its consolidation mode and trend within the 1,510-1,520 range as we expect some bargain hunting may return on glove counters following yesterday’s selling amid the Omicron panic.
  • Meanwhile, crude oil prices were hammered by the new variant with the Brent now hovering at the US$70/barrel from its 52-week high of US$85/barrel.
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Daily Market Report ( 30 November 2021)
  • US equities rebounded on the back of President Biden’s statement that there will be no lockdown amid the threat from the new Omicron variant.
  • The DJI Average jumped by 236 points to above the 35,000 mark while the Nasdaq surged by more than 290 points to almost the 15,800 level. 
  • Meanwhile the 10-year yield climbed to above 1.5% after Friday’s knee jerk reaction.
  • As for the local bourse, we expect the FBM KLCI to trend higher today following yesterday’s brief encounter around the 1,500 level. We reckon bargain hunting activities to emerge today as sentiments recover surrounding the glove counters.
  • For today, we expect the index to hover within the 1,510 – 1,520 range. Meanwhile, the crude palm oil is expected to end November on a record high averaging above RM5,200/tonne from last month’s RM5,051/tonne.
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Daily Market Report ( 29 November 2021)
  • Wall Street tumbled with the discovery of a new Covid variant in South Africa as funds shifted to less risky assets with the US 10-year yield dipped to below the 1.5%.
  • The DJI Average lost 905 points to below the 35,000 mark whist the Nasdaq declined 353 points at below the 15,500 level.
  • On the home front, the FBM KLCI was dragged down by heavy regional losses to close below the crucial 1,520 level.
  • As sentiments remains jittery, we expect the index to hover within the 1,515-1,525 range today as we anticipate some stability to emerge regionally following the heavy selling last Friday. T
  • he new Covid variant also disrupted prices for crude oil as the Brent closed at US$75/barrel after a turbulent trading day.
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Daily Market Report ( 26 November 2021)
  • Wall Street was closed for Thanksgiving yesterday.
  • Taking a look at its futures, both the DJI Average and S&P 500 were flat with the Nasdaq trading around 38 points higher.
  • Back home, the FBMKLCI was under some selling pressure as the index closed below its 1,520 support level. With the next support at 1,500, we reckon bargain hunting may emerge if the index dips further to around the 1,510 mark.
  • For today, we expect the index to trend within the 1,515-1,525 range.
  • Meanwhile, the crude palm oil (CPO) is looking to end November on another record high currently averaging RM5,341/tonne from RM5,051/tonne last month.
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Daily Market Report ( 25 November 2021)
  • Sentiments on Wall Street turned cautious as US equities ended mixed amid inflationary concerns.
  • The DJI Average closed flat as the Nasdaq rebounded 70 points higher to above the 15,800 level following a slight decline in the 10-year Treasury yield to around the 1.65% mark.
  • On the home front, the FBM KLCI closed flat after some bargain hunting activities during the earlier session.
  • We reckon similar patter for today as sentiments may tuned slightly positive following the opening of VTL (vaccinated travel lanes) between Malaysia and Singapore today.
  • For today, we expect the index to trend within a tight range of between 1,520-1,530 again.
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