Opening Daily Highlight
Mixed
All eyes onto BNM
Thu, 02-Nov-2023 08:29 am
by Research Team • Apex Research

Market Review & Outlook

  • Malaysia Market Review. The FBM KLCI (-0.47%) declined yesterday, following the slugging manufacturing PMI that that contracted for the 14 consecutive months. Similarly, the lower liners also dropped, while the Industrial sector (-1.39%) was the worst performer among sectorial peers.
  • Global Markets Review. US stock markets for the third straight session as investors cheered after the Federal Reserve kept interest rates unchanged. Similarly, European stock markets rose, while Asia Pacific stock markets also climbed.
  • Market Outlook. We reckon that the FBM KLCI could stage a rebound from yesterday’s decline, taking cue from the US Federal Reserve’s decision. The lower liners may also see improve trading sentiment on the back of rebound play. Investors will continue to monitor US corporate earnings. Back home, investors will be keeping a close watch onto Bank Negara’s interest rate decision to be table on 3pm later today. For now, consensus is pointing for interest rate to remain on hold. We expect the technology sector to outperform, mirroring the strong performance on Nasdaq overnight.
Sentiment: Negative
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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.452920 4.487673
EUR 4.698373 4.707035
CNY 0.612094 0.612693
HKD 0.572113 0.576600
SGD 3.311112 3.337265