rakuten trade market reports : Page 14

US markets continues its bullish run with index as Nasdaq and S&P hit record high on the trade deal optimism coupled with reports that US plans to remove China from a list of currency manipulators.
Regional markets are expected to follow suit and trend higher today.
However, our local FBM KLCI continues to lag and stayed below 1,600 level.
Nonetheless, the small mid cap and technology has been the bright spot and we expect it continue and investors should look at tech related stocks such like UWC, Dufu, MI Tech, JCY and Notion.

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It is going to be a rather bewildering week as we are bombarded by a slew of mixed messages across the region. Over the last few days, we have the middle east tension, the possible US China trade truce, the volcano eruption in the Philippines plus the just concluded election in Taiwan.
As such, we reckon regional markets to remain confused and stay flattish today. Locally, the FBM KLCI is expected to trend within a narrow range of between 1,590/95 range until clearer picture arises.
Meanwhile, as the US is entering into results season, any below par performance may instigate profit taking activities following the record-breaking uptrend recently on Wall Street.

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Major global indices rebounded last week following the easing tension on geopolitical politics between US and Iran and positive sentiment driven by the trade deal between US and China. Hang Seng Index was the top gainers and it ended at 28,638 points.
On the local front, FBM KLCI edged down 0.39% to 1,591.5. Weekly foreign funds were negative, posted net outflow of RM10.9m with year-to-date net inflow of RM171.1m. There were 10 gainers against 19 losers in KLCI last week.
The performers were MAXIS (+3.19%), PMETAL (+2.49%) and GENTING (+1.99%). Top 3 losers were AIRPORT (-6.75%), PETCHEM (-2.82%) and PETDAG (-2.68%).

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Stocks seem to be poised for a rebound following a strong performance on Wall Street.
After a positive close yesterday, we anticipate buying momentum to continue today amid the easing tension between the US and Iraq.
As we are not entirely convinced of this, we advise investors to practice some caution and not to be overly zealous. As for the FBM KLCI, we believe it may test the 1,610 level.

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It is a waiting game now for investors as all eyes will be looking at what next? Though Wall Street steadied overnight, trading activities were uneasy as investors largely remain sidelined.
In addition, there were also no apparent movements for safe havens like Gold and the US Treasury as investors are unwilling to take any stance. As such, we reckon regional markets to remain nonchalant today due to the still fluid situation between the US and Iran.
Locally the FBM KLCI is expected to trend sideways stuck within the 1,580/90 range today.

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