rakuten trade market reports : Page 2

Sure enough Wall Street retreated yesterday as the bleak economic data and earnings began to sink in. As a result, the DJI Average lost 445 points to close at the 23,500 level.
Meanwhile, US Covid-19 cases surpassed 600,000 with deaths closing in the 30,000 mark and yet Mr Trump is thinking that the pandemic has peaked in the US.
Nonetheless, we can expect a weaker regional undertone today following some late selling across the region yesterday.
On the local front, the FBM KLCI was the last one standing yesterday within the region but we expect profit taking activities to take over today.
We were rather surprised of the FBM KLCI resilience over the past few days but may see some weaknesses today with the 1,380 as the immediate support.

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Wall Street seems to be in a self-denial mode as stocks surged yesterday as if the situation over in the US is improving. The DJI Average settle just below the 24,000 mark.
Meanwhile, in a blatant attempt to deflect his blunders, Mr Trump is blaming the WHO for the surge in Covid-19 cases in the US further illustrating the dire situation in the US.
Meanwhile, we reckon regional markets to see limited upside today following some solid performances over the last few sessions.
Locally, we expect upside to continue today but may be impeded by profit taking activities along the way.
Therefore, we would expect to see the FBM KLCI to possibly test the 1,380 mark and close around the 1,370/75 level today.

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Wall Street have had another wild session yesterday as US is entering into its earnings season.
The DJI Average trended between a 600-point range before it closed 330 points lower.
In line with this, we believe regional markets to continue being stuck in the realm of volatility.
On the local front, following a rather resilient session yesterday we expect the local bourse to experience some selling pressure today with the FBM KLCI to test the immediate support at the 1,350 mark.
Meanwhile, let’s not forget about Covid-19 which could top 2m cases globally by today.

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Regional markets are expected to be volatile as Covid-19 remains unrelenting over in the western world.
Nearer to home, Indonesia is anticipated to see a surge in its numbers as the authorities are ramping up their screening processes.
As such, we reckon the local bourse is also set to remain volatile and anticipate the FBM KLCI to trend within the 1,345/60 range.
Overall, we foresee downward pressure on the benchmark index to be greater.

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Wall Street continued with its volatility and uptrend following statements from the Feds of a US$2.3 trillion financing package to battle the ailing US economy.
The DJI Average breached the 24,000 mark at one point before profit taking sets in pushing the index lower to close at 23,700 clearly illustrating the fragile sentiments amongst the investors.
Today we anticipate some profit taking to emerge regionally ahead of the weekend.
On the local front, we would expect the FBM KLCI to see some selling pressure today following a rather decent performance over the last few days with the immediate support at the 1,360 level.

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