rakuten trade market reports : Page 6

Nowhere to hide as one can expect another rout for the regional markets today following the trashing on Wall Street.
We believe investors are reverting to “cash is king” as even the US treasuries were sold down as well. The US 10-year yield climbed from a low of 0.7% a few days ago to now around 1.2%.
Locally, we may see more downside bias for the FBM KLCI with 1,220 as the immediate support after which the 1,200 would be the psychological support level.

Download

Wall Street rebounded rather strongly overnight following news of a huge injection of liquidity by the Feds. Nonetheless, we remain unconvinced if this a solution to the prevailing market situations.
Though we can expect some rebound today, we would prefer to stay cautious and again advocate to sell into strength.
Locally we anticipate the FBM KLCI to possibly retest the 1,280 level today with the support seen at 1,250.

Download

It will be another eventful day for the equity markets regionally. With Wall Street trashed yesterday, we believe a regional bloodbath is inevitable.
Locally we expect to see more downside pressure on the FBM KLCI and expect the next support at the 1,200 mark.
We do not think this is the time to bargain hunt yet as sentiments remain highly fragile.

Download

We are in for a roller coaster ride today. With the FEDs aggressive rate cut over the weekend to near zero, any rebound will be met with selling activities.
Judging by the US latest QE, we reckon this indicates the scenario is even worse than initially anticipated.
Locally, we expect the downside pressure on the FBM KLCI to be high with 1,300 as the immediate psychological support level.
With the outlook on interest rates clearer now, next is to look out for currencies which should be see heightened volatility. Again, we would advocate investors to be cautious and adopt the sell into strength mode, if any.

Download

Major global indices fell sharply for the week with the Dow Jones losing over 665 points and ended at 23,185.6. President Trump declared national emergency while Federal Reserve cuts rates to zero to calm down on the financial markets and economy.
Asian equities mirrored the bearish trend with Thailand’s SET Index being the top losers (-10.1%).
On local front, FBM KLCI finished 5.6% lower to 1,344.8. Weekly foreign funds were hugely negative, posted net outflow of RM1.9bn on top of the year-to-date massive net outflow of RM5.2bn.
There were only 3 gainers in FBM KLCI last week against losers of 27. The performers were MISC (+11.28%), DIALOG (+5.61%) and TOPGLOVE (+2.13%). Top 3 losers were HAPSENG (-14.25%), PMETAL (-14.06%) and HLBANK (-12.27%).

Download

Market Reports