rakuten trade market reports : Page 33

Major stock markets continued to rebound last week with the Hong Kong’s Hang Seng Index leading the trend gaining 4.5% or 1,153 points. The FBM KLCI also closed firmly above the 1,600 mark at 1,604.5 points.
Foreign funds continued to be net outflow for the month with RM278.6m. Performance amongst the FBMKLCI components saw 20 gainers to 9 losers.
Top 3 performers include MISC (+8.39%), PETDAG (+5.42%) and AMMB (+4.52%) while the 3 losers were AXIATA (-2.40%), HLFG (-2.16%) and DIGI (-1.21%).

Download

Looks can be deceiving. US equities resume its uptrend with the DJI Index recovered by more than 1,000 points over the last 6 days while the US 10-year Treasury yield spiked up to 1.56% from a low of 1.44% only 3 days ago.
Nonetheless, we brace ourselves for another volatile ride as we believe the situation may turn for the worse (again) since nothing has been resolved so far. Therefore, are we back to the norm? We do not think so hence continue to advocate investors to Buy on Weakness.

Download

It has been another round of downgrade in corporate earnings growth following the completion of the 3Q19 results season recently.
Analysts further revised down their estimates especially for the Banking and Plantation sectors as prevailing market volatility further dampens sentiments. Therefore, earnings growth for 2019 is seen to decline by 3.1% from -0.5% previously.
As for 2020, earnings growth is also expected to be weaker at 5.6% from 6.1% previously. As a result, expectations for the FBM KLCI by end-2019 is also less optimistic tagged at 1,680 from 1,720 before.

Download

Financial markets especially equities are seen to remain volatile for the time being. With the ongoing US/China trade war and the latest setback in Brexit, we reckon investors have begun a flight to safety namely to treasuries and gold.
As a result, the US 10-year yield have dipped to its lowest YTD at 1.45% with gold prices soaring above its 5-year high at US$1,548/oz.
Locally we see the support of the FBM KLCI at 1,580 following some heavy selling yesterday with 1,600 as the immediate psychological resistance level.

Download

Crude oil price has been rather volatile of late no thanks to the US trade war with China. In addition, many is expecting demand to weaken following Hurricane Dorian which had bombarded the Bahamas recently.
Prices of Brent hit the high of US$75/barrel this year and a low of US$56.20 before closing at US$58.60/barrel currently.
Therefore, we expect interests on Oil & Gas stocks to subside as outlook remains murky at the moment.

Download

Market Reports