Opening Daily Highlight
Mixed
Eyes onto US CPI data
Tue, 12-Dec-2023 07:57 am
by Research Team • Apex Research

• Malaysia Market Review. The FBM KLCI (+0.31%) rebounded from fifth consecutive losing sessions, propelled by a positive sentiment from US market overnight. Similarly, the lower liners advanced, while the utilities (+2.80%) and property sector (+0.94%) were the leaders of the gainers, taking cue from the theme of Jensen Huang’s visit and Johor property players related to HSR project

• Global Markets Review. US stock markets extended their gains ahead of the CPI data and interest rate decisions this week. Similarly, European stock markets closed green led by media stocks, and Asia equity markets ended mostly higher, taking cue from positive sentiment from US overnight.

• Market Outlook. We anticipate the FBM KLCI to trade flat today as investors may stay on the sidelines ahead of US key economic data and the Fed interest rate decision. Profit-taking activities may emerge from the property sector after the surge yesterday. Meanwhile, politics-related stocks may experience volatility today following the source of news of cabinet reshuffle taking place. Also, energy-related stocks may continue to build onto their previous session gains following the rebound in in crude oil prices.

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