Opening Daily Highlight
Mixed
Mild Profit Taking
Wed, 08-Nov-2023 08:20 am
by Research team • Apex Research

  • Malaysia Market Review. The FBM KLCI snapped a 3-day winning run as the key index slipped -0.09%, dragged down by sluggish industrial production index (IPI) data. The lower liners also turned downbeat, while the healthcare sector topped the peers with rally of +2.17%, following the improved financial performance from Hartalega.
  • Global Markets Review. Gains in US markets remains subdued, with megacap stocks was largely supported by the decline in US Treasury yields, while investors are looking for greater clarity on interest rates from the Federal Reserve. European stock markets closed lower on Tuesday as positive momentum in the region slowed.
  • Market Outlook. The FBM KLCI is expected to hold steady, while investors await further confirmation on Malaysia's economic resiliency. Concurrently, Malaysia's industrial production index (IPI) showed a minor decline of -0.5% YoY in September 2023, mainly attributed to the adverse effects of the mining sector's oil and gas activities, following a -0.3% drop in previous reading. Going forward, investors will closely monitor the impending release of the unemployment rate to identify any potential signs of economic weakness. Meanwhile, we expect the energy sector to be under pressure from weakness in crude oil prices.
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