Opening Daily Highlight
Mixed
Market remained jittery
Thu, 09-Nov-2023 08:16 am
by Research team • Apex Research

  • Malaysia Market Review. The FBM KLCI (-0.39%) edged lower as investors awaits fresh hints from Fed President Jerome Powell this week. On the other hand, the lower liners turned positive, while the utilities sector topped the peers with rally of +2.50% as water-related stocks advanced on the prospects of higher water tariffs for domestic users
  • Global Markets Review. The US stock markets displayed a mixed performance, with the Dow experiencing a decline, while the S&P 500 and Nasdaq edged higher. The dip was attributed to investors' concerns that higher interest rates might persist for an extended period. In contrast, European stock markets rebounded from previous losses, while the Asia market registered a slight weakness.
  • Market Outlook. Market performance could be mixed, despite improving economic conditions with unemployment rate held steady at 3.4% for three consecutive months. Any optimism is likely to be overshadowed by soft sentiment from Wall Street. Looking ahead, comments from various Federal Reserve officials, including Fed President Jerome Powell will be monitored closely. Meanwhile, China’s inflation rate and producer price index data as well as Malaysia’s retail sales will be in focus today. Additionally, we expect the energy sector to remain under pressure from weakness in crude oil prices with Brent oil prices slipping below US$80/bbl.
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