Opening Daily Highlight
Mixed
Still within consolidation
Thu, 23-Nov-2023 08:08 am
by Research team • Apex Research

  • Malaysia Market Review. The FBM KLCI (-0.51%) erased all its previous session gains as cautiousness took place, while Hap Seng Consolidated (-5.6%) took a beating following the sluggish quarterly performance. The lower liners also retreated on profit taking, while the technology sector (+0.3%) recorded a three-day winning run.
  • Global Markets Review. US stock markets rebounded ahead of the Thanksgiving public holiday with Amazon (+1.95%) outperformed ahead of the Black Friday and Cyber Monday sales. European stock markets closed mostly higher, but Asia stock markets ended mixed.
  • Market Outlook. With the key index remains directionless, we expect the trend to extended in view of the absence of fresh leads. Meanwhile, the US Michigan's survey of consumer sentiment showed US consumers' inflation expectations rose for a second straight month in November 2023; highlighting that inflation will remain sticky and interest rates are expected to remain higher for longer. Back home, the barrage of corporate earnings releases will remain in focus over. Elsewhere, the energy sector is expected to see weakness following the slide in crude oil prices after the meeting between OPEC+ producers on course for crude production cuts were delayed from 26 November 2023 to 30 November 2023 without any explanation.
Sentiment: Negative
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Market Mover
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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