Opening Daily Highlight
Mixed
Key external economic events in focus
Mon, 15-Jul-2024 08:09 am
by Research Team • Apex Research

Market Review & Outlook

  • Malaysia Market Review. The FBM KLCI (-0.25%) closed lower as profit taking emerged as the key index bucked the upbeat of regional performance on last Friday. Lower liners close mixed. Meanwhile, Transportation sector (+0.31%) emerged as the top gainer, while Technology (-0.95%) and Utilities (-0.83%) sectors ranked as the top losers
  • Global Markets Review. Wall Street closed higher last Friday with Dow and S&P 500 indices break record high levels, despite hotter than expected PPI data as investors bets on Fed cut rates in September. Similarly, European market closed higher. Asia stock market finished mostly green except for the Nikkei which dropped more than 2.0% following concerns over potential government intervention of the Japanese Yen currency
  • Market Outlook. We expect a positive tone on the local bourse, likely mirroring Wall Street's strong performance last Friday. Over the weekend, the attempted assassination of Donald Trump is expected to increase his re-election odds. Other key focuses for the week include China's economic data, a speech by the Fed Chairman, US retail sales, and ongoing earnings seasons on Wall Street throughout the week. Back home, we anticipate that Technology and Utilities sectors will continue to be the preferred choice for foreign funds, riding on the data centers and AI developments. Meanwhile, renewable energy-related stocks are expected to experience some volatility due to the increased odds of Trump's re-election, given his unfavorable stance on renewable energy development.
Sentiment: Positive
Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.933208 3.960978
EUR 4.575563 4.585407
CNY 0.571282 0.571899
HKD 0.503427 0.507495
SGD 3.076058 3.100967