Opening Daily Highlight
Mixed
Positive momentum to sustain
Thu, 16-Nov-2023 08:04 am
by Research Team • Apex Research

• Malaysia Market Review. The FBM KLCI (+1.04%) ended higher, in tandem with regional markets that tracked the overnight Wall Street performance buoyed by after a cooling inflation data in US. The Healthcare sector led the gainers list supported by the rebounded of glove stocks, while REIT was the sole loser, attributed investors leaning towards higher risk sectors.

• Global Markets Review. US stock markets rose after data showed further sign of easing by PPI come lower than expectations. Similarly, European markets, main indices advanced, led by technology stocks. Asia market wise, Hong Kong stocks led the gains, driven by upbeat retails sales data from China.

• Market Outlook. We anticipate positive momentum from global markets will continue to spill over into the local bourse, supported by the strengthening of the local currency and upbeat economic data from China. However, upside potential remains limited as investors remain cautious, focusing on the ongoing quarterly results season and US-China talks. The healthcare sector, particularly glove stocks, should see some gains, supported by the stellar results posted by Kossan yesterday evening. Additionally, we favor the logistics sector, which potentially rides onto better-than-expected economic data from China.

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