rakuten trade market reports : Page 16

Most major stock markets will resume trading today after a rather Merry Christmas rally recently.
Wall Street closed flattish on a shortened trading Christmas eve and we expect the same today as many are still on holiday mood.
Nonetheless, we reckon window dressing activities on Bursa Malaysia to persist following a rather hefty profit taking before the Christmas break.
Therefore, we expect some accumulation on stocks and see the FBM KLCI to retest the 1,605 thereafter to touch the 1,610 again.

Download

Waiting to take the cue from Wall Street, we expect regional markets to trend higher today following another solid closing over in the US.
With commodities like Gold and crude oil also ended the session firmer, we reckon monies will find their way into Asian equities.
We remain adamant that window dressing on the local bourse still exist and believe the FBM KLCI to surpass the 1,610 level today.

Download

With Wall Street remaining at solid footing, we believe more funds would be channelled into equities as window dressing activities were rather prevalent last week regionally.
As such, we reckon accumulation of stocks to persist namely in Malaysia as the local stock market has been the worst performer within the region for 2019 thus far down by 4.7%.
Hence, we envisage the FBM KLCI to maintain its upward momentum towards the 1,620 mark before closing for the year.

Download

Despite Wall Street taking a breather following a record breaking 2019, we expect selective Asian markets to continue with their uptrend amid some foreign buying.
The local bourse especially should see its positive performance intact and we expect the FBM KLCI to chart further upside with 1,620/25 as the next target range.
Meanwhile the MYR is also performing rather well currently at 4.10 against the USD from around 4.18 only a month ago.

Download

U.S. equity markets continued its winning streak to three record closing session on the back of news that China lowered tariffs as a sign of reducing trade tensions that is fuelling the year-end rally.
On the local front, last week saw net foreign buying activities which would support FBM KLCI coupled with continued see window dressing activities.
We expect KLCI to head towards 1,620 level and 1,630.

Download

Market Reports