Market Reports

Daily Market Report (23 May 2022)
Daily Market Report (23 May 2022)
  •  It was another roller-coaster session on Wall Street attributed to recessionary fears, however all 3 major indices closed off their respective lows from late bargain hunting activities.
  • The DJI Average was up 9 points after losing 600 points earlier while the Nasdaq recovered from a 300-point drop to end only 34 points lower.
  • On the home front, the FBM KLCI closed marginally lower due to some last minute selling activities.
  • As market volatility remains high, we reckon the index to be on consolidation mode and expect it to trend within a range of between 1,540-1,555 today.
  • Despite concerns of recession that may hamper demand for crude oil, the Brent crude price stayed elevated at above the US$112/barrel.
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Daily Market Report (20 May 2022)
Daily Market Report (20 May 2022)
  • Inflationary concerns saw traders dumped equities as Wall Street closed lower.
  • The DJI Average declined by 237 points while the Nasdaq lost 30 points as the US 10-year yield ended lower at around the 2.84% level.
  • As for the local bourse, the FBM KLCI closed lower amid the weaknesses across the region.
  • As uncertainties continue to dictate sentiments, we reckon the index to remain stuck within its consolidation mode of between 1,540-1,555 today.
  • Meanwhile, the crude palm oil also ended lower at RM6,650 tracking the softer soya prices.
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Daily Market Report (19 May 2022)
Daily Market Report (19 May 2022)
  • Wall Street was trashed by the bears as fears of inflationary pressures ballooned.
  • The DJI Average lost 1,164 points whilst the tech-heavy Nasdaq declined by 566 points despite the US 10-year yield eased slightly to below the 2.9% level.
  • On the home front, the FBM KLCI managed to close higher although market undertone remains cautious.
  • Nonetheless reflecting the bloodbath on US equities overnight, we believe regional markets to see major headwinds today.
  • As such, we reckon the index to possibly trend lower and expect it to hover within the 1,540-1,555 range today.
  • Meanwhile, the MGS 10-year yield has risen to a multi-year high of above 4.5% indicating some selling activities.
  • Crude oil prices eased marginally with the Brent closing below the US$110/barrel amid the confusion on demand and supply situation.
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Daily Market Report (18 May 2022)
Daily Market Report (18 May 2022)
  • Wall Street staged a relief rally as all 3 major indices ended off their respective lows.
  • The DJI Average was up by 431 points while the Nasdaq closed 322 points higher despite the US 10-year yield edged closer towards the 3% mark.
  • As for the local bourse, the FBM KLCI closed higher but was off the day’s high attributed to some last minute selling as overall sentiments remained rather cautious.
  • For today, we reckon the index to possibly trend between the 1,545-1,555.
  • Meanwhile, in a very rare occasion the WTI closed higher at US$114/barrel vs the Brent crude at US$112/barrel as the debate whether to ban Russian oil imports in Germany continues.
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Daily Market Report (17 May 2022)
Daily Market Report (17 May 2022)
  • It was another choppy session on Wall Street as US equities ended on a mixed note as sentiments remained jittery on inflationary concerns.
  • The DJI Average gained 27 points while the Nasdaq lost 142 points as the US 10-year yield inched closer towards the 2.9% mark.
  • On the local front, the FBM KLCI closed higher last Friday due to some bargain hunting activities.
  • For today, we reckon the index to remain stuck within a narrow range of between the 1,540- 1,550 band as sentiments are still cautious.
  • Meanwhile, news that Germany may ditch the imports of Russian oil had pushed the Brent crude price to above the US$114/barrel.
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