Opening Daily Highlight
Mixed
Extended Upbeat Momentum
Tue, 07-Nov-2023 08:21 am
by Research team • Apex Research

Market Review & Outlook

  • Malaysia Market Review. The FBM KLCI extended its upward momentum (+1.02%) yesterday to close at the highest level since February 2023. The lower liners also witnessed a positive trajectory, with the technology sector (+1.90%) outperforming the other sectors.
  • Global Markets Review. The US markets recorded modest improvement following the strong rally last week, as gains was ebb with investors anticipates onto further positive catalysts. European stock markets experienced a decline, while Asia markets gained momentum in response to a relatively weak US job report.
  • Market Outlook. Following the returns of foreign fund inflow and the stronger-than-expected services producer price index (SPPI) that grew 1.4% to 115.4 points in 3Q23, we expect the FBM KLCI to extend its upward trajectory this week. Additionally, the Ringgit demonstrated a noteworthy rebound against the US dollar, resulting to investment in Malaysia turns more attractive. Looking ahead, investors will be closely monitoring the release of Malaysia's 3Q23 GDP data, which is scheduled to be published this Friday. Coming closer, investors may monitor onto Malaysia’s industrial production data to be release today.
Sentiment: Positive
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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