Opening Daily Highlight
Mixed
No signs of recovery, yet
Tue, 21-Nov-2023 08:20 am
by Research team • Apex Research

  • Malaysia Market Review. The FBM KLCI (-0.26%) remained downbeat, as investors treaded cautiously with half of the key index constituents retreated. Meanwhile, the Healthcare sector (+1.62%) outperformed the mostly negative sectorial peers as bargain hunting activities accelerates.
  • Global Markets Review. US stock markets advanced with the Dow (+0.58%) re-claiming 35,000 psychological level with technology mega-cap players rallied on optimism ahead of Nvidia’s quarterly results release which could surpass expectations on the back of strong demand for generative AI. Elsewhere, both the European and Asia markets ended mixed.
  • Market Outlook. There was no respite for the FBM KLCI as industry players adopted the wait-and-see approach ahead of the release of US Federal Reserve minutes meeting. We expect the downward bias consolidation tone on the local bourse to extend with investors monitoring onto the release of US existing home sales data later tonight. Meanwhile, the soaring Nasdaq performance overnight may transpire to improve trading interests within the technology sector on Bursa Malaysia today. Additionally, the higher Sarawak state budget allocation of RM12.4bn for 2024 will drive trading interests within Sawarak-related stocks.
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