Market Reports

Daily Market Report (19 August 2024)
Daily Market Report (19 August 2024)
  • Wall Street’s comeback continues on the back of a much stronger US retail sales and decline in weekly jobless claims.
  • All 3 major indices ended positively with the DJIA adding 97 points while the Nasdaq rose by 37 points.
  • With the cut in interest rate looking imminent in September, the US 10-year yield dipped to 3.883%.
  • In Hong Kong, the HSI jumped to its weekly high on optimism that the PBOC has pledge of more incentives to bolster confidence.
  • Meanwhile, strong earnings from JD.com have also spurred a tech rally within.
  • Back home, the FBM KLCI closed on a weekly high supported by persistent buying from foreign funds.
  • We believe the strengthening ringgit may also play a crucial role in attracting inflow of foreign funds thus expect the index to trend within the 1,620-1,635 range today.
  • It is pivotal that the index breaks the 1,630 mark decisively to resume it uptrend going forward.
  • As for crude palm oil, prices have declined to almost the year’s low circa. RM3,700/tonne amidst the stronger ringgit.
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Daily Market Report (16 August 2024)
Daily Market Report (16 August 2024)
  • Wall Street surged as traders turned optimistic of a soft landing for the US economy following a better than expected retail data in July coupled with a fall in jobless claims for the week.
  • As a result, the DJIA added 555 points while the Nasdaq jumped 402 points as the US 10-year yield tuned higher at 3.919%.
  • Over in Hong Kong, the HSI closed marginally lower despite a solid opening as sentiment turned cautious attributed to a mixed bag of economic data from China.
  • Back home, the FBM KLCI ended flat despite continuous buying support from foreign funds as overall sentiment of the local bourse remained rather uninspiring, possibly due to the lack of fresh catalysts.
  • We believe the trading pattern to remain the same for today and expect the index to trend within the 1,610-1,620 range.
  • Meanwhile, crude oil prices closed higher on the back of better economic climate in the US as the Brent crude closed at USD81/barrel.
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Daily Market Report (15 August 2024)
Daily Market Report (15 August 2024)
  • Wall Street closed broadly higher boosted by a tame consumer price index (CPI) figure that came in within expectations hence pointing towards an imminent rate cut by the Federal Reserve next month.
  • As a result, the DJIA rose 243 points while the Nasdaq ended 5 points higher with the US 10-year yield edging lower at 3.839%.
  • In Hong Kong, the HSI weakened following the release of China’s weak new loans attributed to low credit demand.
  • This is despite optimism of a US rate cut in September.
  • Back home, the FBM KLCI maintained its uptrend albeit at a lacklustre pace as illustrated by the low daily volume traded that is stuck at the 3bn shares level.
  • For today, we believe buying activities may gain some traction after the modest US CPI data overnight thus expect the index to hover within the 1,610-1,620 range.
  • Meanwhile, we anticipate the MYR to strengthen against the greenback going forward and dip below the RM4.40 mark anytime soon.
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Daily Market Report （14 August 2024)
Daily Market Report （14 August 2024)
  • Wall Street surged as sentiment was buoyed by a decent PPI (producer price index) data which could imply of a tame CPI figure that is to be released later today and that a lower CPI will certainly indicate rate cuts by the Federal Reserve in September.
  • As such, the DJIA rose by 409 points while the Nasdaq gained 407 points as the US 10-year yield declined to 3.847%.
  • Over in Hong Kong, the HSI managed to stay above water on hopes for a US rate cut and more easing policies from PBOC after China’s new loans hit a 15-year low in July.
  • On the home front, the FBM KLCI closed on a positive note as buying activities were rather strong.
  • Nonetheless, daily volume traded dropped to around the 3bn shares level depicting that retail participation remained side-lined.
  • For today, we expect trading activities to improve taking cue from the uptrend on Wall Street thus anticipate the index to hover within the 1,610-1,620 range today.
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Daily Market Report (13 August 2024)
Daily Market Report (13 August 2024)
  • Wall Street closed on a mixed note as sentiment stayed cautious with traders mostly side-lined waiting for a deluge of economic data over the next few days especially the CPI figure on Wednesday.
  • As a result, the DJIA lost 140 points while the Nasdaq added 35 points as the US 10-year yield eased to 3.907%.
  • In Hong Kong, the HSI managed to stay above water after a choppy session.
  • Despite traders are optimistic that the PBOC may reduce the reserve requirement ratio (RRR), the uptrend was affected by restrictions within the gaming sector.
  • Back home, buying activities returned as the FBM KLCI closed above the 1,600 level predominantly supported by the local institutions.
  • We believe this will eventually instill some confidence on the smaller caps thus expect the daily volume to improve going forward.
  • Hence, we reckon the index to hover within the 1,600-1,615 range today as market undertone remains on a cautious mode.
  • Meanwhile, escalating tension in the middle east and more positive US economic data saw crude oil prices firming as the Brent crude topped almost the USD81/barrel.
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