Opening Daily Highlight
Mixed
Lingering on sideways
Mon, 27-Nov-2023 08:49 am
by Research Team • Apex Research

• Malaysia Market Review. The FBM KLCI (+0.04%) extended its sideways trend with Genting-related stocks leading gains after their positive quarterly results. The lower liners were negative, while the industrial sector (+0.44%) outperformed the mostly negative sectorial peers.

• Global Markets Review. Wall Street was mixed with the Dow and S&P were anchored by gains from retail stocks that were boosted by Black Friday sales, but the Nasdaq edged lower. European stock markets were higher following gains in chemical companies, while Asia stock markets were mixed following economic data from Japan.

• Market Outlook. Once again, we opine that the FBM KLCI may continue to trend sideways in view of the lack of surprises from corporate results. Any downside will be cushioned after US Treasury yields hit multi-month lows on expectations that inflation is cooling and the Federal Reserve may be done in rate hikes. Back home, investors will be keeping a close watch onto Malaysia’s producer price index on Tuesday this week. At the same time, US new home sales and S&P Global Manufacturing PMI data will be in focus. Meanwhile, the high inventories recorded

Sentiment: Positive
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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