Opening Daily Highlight
Mixed
Cheered by OPR status quo
Fri, 03-Nov-2023 07:57 am
by Research Team • Apex Research

Market Review & Outlook

  • Malaysia Market Review. The FBM KLCI (+0.31%) rebounded yesterday, following bargain hunting as Bank Negara Malaysia kept interest rates unchanged at 3%. Similarly, the lower liners also climbed, while the Utilities sector (+2.97%) was the best performer among sectorial peers.
  • Global Markets Review. US stock markets rallied for the fourth straight session as US Treasury yields retreated with expectations that the Federal Reserve is wrapping up their rate hike campaign for this year. Similarly, European stock markets rose, while Asia Pacific stock markets also climbed.
  • Market Outlook. We reckon that the FBM KLCI could extend its rebound, taking cue from Wall Street’s bullish momentum. Still, recovery is expected to be measured at this point of time, given that there was absence of fresh leads from the local front. The lower liners may also see improve trading sentiment on the back of rebound play, riding onto previous session net buying position from foreign funds. Investors will continue to monitor the US’ October jobs report and corporate earnings. Meanwhile, the China as well as US Services and Composite data will be monitored closely.
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 4.452920 4.487673
EUR 4.698373 4.707035
CNY 0.612094 0.612693
HKD 0.572113 0.576600
SGD 3.311112 3.337265