Opening Daily Highlight
Mixed
US-China Talks Take Center Stage
Tue, 14-Nov-2023 08:50 am
by Research Team • Apex Research

Malaysia Market Review. The FBM KLCI (-0.49%) concluded the week  with a softer note, aligning with the trend observed in regional markets  mainly prompted by the hawkish tone from the US Federal Reserve over  future interest rate direction. On the other hand, Transportation and Logistics sector was the sole outperformer amongst the sectorial peers after Westports has posted a strong set of quarter result.

Global Markets Review. Wall Street closed with a mixed performance as investors awaited fresh inflation data. Energy stocks led gains, supported by a rebound in oil prices after OPEC's monthly market report eased worries about waning demand. In Europe, stock markets ended higher, while Asia markets closed mixed ahead of high-stakes talks between the US and China.

Market Outlook. We expect bargain hunting activities to emerge on the local stock market today following last week's volatile period. Still, upsides will be choppy and we advocate investors to exercise caution with focus onto the on-going quarterly results season. Key economic events to monitor this week includes the US inflation data and US – China talks as well as Malaysia’s 3Q23 GDP data. We expect the O&G sector will see some rise support by rebound in oil prices.

Sentiment: Negative
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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.436869 4.470612
EUR 4.675505 4.679374
CNY 0.611103 0.611560
HKD 0.570272 0.574102
SGD 3.296965 3.319254