Opening Daily Highlight
Mixed
Expecting positive to spillover
Wed, 15-Nov-2023 08:08 am
by Research Team • Apex Research

• Malaysia Market Review. The FBM KLCI (+0.45%) rebounded at the start of the week, snapping a four-day decline, as bargain hunting activities emerged. However, traded volume declined, with investors awaiting the release of US inflation data. The Telco and Utilities sectors led the gainers list, while the Healthcare sector was the biggest loser, dragged by selling pressure in glove stocks.

• Global Markets Review. US stock markets surged following the lower than expectation inflation data which boosting prospects that Federal Reserve interest rate upcycle is coming to an end. Similar to European markets, main indexes advanced. Asia market wise, majority ticked higher on optimism over the US-China talks.

• Market Outlook. We anticipate the positive sentiment from the global markets to spill over into the local bourse following the cooling US inflation data and retracement of the US Dollar. However, upside potential may be limited as investors remain cautious, focusing on the ongoing quarterly results season, coupled with US-China talks. The technology sector is expected to lead the gains, supported by the decline in US Treasury yields and the surge in the Nasdaq. We also favour the plantation sector that

potentially ride

Sentiment: Positive
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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