Opening Daily Highlight
Mixed
Treading within consolidation
Fri, 24-Nov-2023 08:39 am
by Research team • Apex Research

  • Malaysia Market Review. The FBM KLCI (-0.18%) extended its decline with oil & gas and plantation giants retreating following the weaker commodity prices. The lower liners also extended their pullback, while the healthcare sector (+1.87%) outperformed the mostly negative sectorial peers.
  • Global Markets Review. Wall Street was closed in conjunction with the Thanksgiving public holiday, while futures markets are pointing towards a positive opening. European stock markets traded mildly higher as European bonds fell after Germany suspended debt limits for the fourth straight year, but Asia stock markets closed mixed.
  • Market Outlook. Once again, we opine that the FBM KLCI may continue to tread on a downward bias consolidation band in view of the lack of fresh leads, coupled with the closing of US stock markets overnight. The downturn of Eurozone’s business activity is stoking concern over potential recession, which may trigger further volatility. Back home, investors will be keeping a close watch onto Malaysia’s inflation data to be release today. At the same time, the preliminary reading of US S&P Global Manufacturing PMI data will be in focus.
Sentiment: Negative
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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.210973 4.249411
EUR 4.954495 4.965490
CNY 0.589445 0.590817
HKD 0.536642 0.541158
SGD 3.306006 3.333319