Opening Daily Highlight
Mixed
Finding stability
Mon, 09-Oct-2023 08:31 am
by Research Team • Apex Research

Market Review & Outlook

  • Malaysia Market Review. The FBM KLCI (+0.1%) was nudged marginally higher, on the back of bargain hunting activities. The lower liners also advanced with the FBM Small Cap inching above 16,000 level, while the Construction sector (+0.9%) outperformed.
  • Global Markets Review. Wall Street advanced after US treasuries yields retreated, while unemployment rate held steady at 3.8% in September 2023. Elsewhere, European stock markets advanced, while Asia markets ended broadly positive.

Market Outlook. With the key index attempting to find stability and the calmer market condition on Wall Street, we expect further recovery to take charge. The lower liners are expected to notch higher with investors bargain hunt on recent beaten down stocks with focus towards the construction sector ahead of the tabling of Budget 2024 later this week. We reckon that the focus will also shift onto China equities markets that set to resume trading after the Golden Week holidays. The surging Baltic Dry Index data that rose to one-year high may present some trading opportunities within the transportation & logistics sector.

Sentiment: Positive
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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.373243 4.414705
EUR 4.565507 4.577376
CNY 0.602867 0.604630
HKD 0.561419 0.566456
SGD 3.236779 3.265133