Opening Daily Highlight
Mixed
Extended upward momentum
Tue, 19-Dec-2023 07:48 am
by Research team • Apex Research

  • Malaysia Market Review. The FBM KLCI (+0.19%) remained upbeat at the start of the week, lifted by gains in selected banking and Petronas-related heavyweights yesterday. The lower liners ended mixed, while the healthcare sector (+3.21%) rallied on the resurgence of Covid-19 in recent weeks.
  • Global Markets Review. US stock markets extended their lead, driven by more than US$40.0b of mergers and acquisitions activities. European stock markets, however, retreated as several central bank officials quashed expectations of interest rate cuts, while Asia stock markets ended mostly in red.
  • Market Outlook. Gains on the FBM KLCI is expected to remain in place with little signs of exhaustion with the key index now re-testing the stiff resistance throughout the year. With volatility taking a back seat, we reckon further up strides are still in present. The broader market, however, have turned slightly choppy with rotational play took precedence. For now, the Bank of Japan interest rate decision will be in focus with markets watching for any sign of an end towards negative rates or yield curve control from the central bank. We expect oil & gas-related stocks to trade actively after shipping lines suspended transit through the Red Sea, following escalating attacks on merchant ships which resulted in higher crude oil prices.
Sentiment: Positive
Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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