Opening Daily Highlight
Mixed
Profit taking escalates
Tue, 26-Dec-2023 08:06 am
Apex Research

• Malaysia Market Review. The FBM KLCI (-0.08%) was flat as ahead of the extended weekend festive break with investors retreated to the sidelines. However, the lower liners were higher with the industrial sector (+0.38%) outperformed and the healthcare service sector (-0.36%) suffered from profit taking.

• Global Markets Review. The US stock market was mixed with the Dow ended in the red, while the S&P and Nasdaq advanced as the personal consumption expenditure data came in lower than expected, signalling for potential rate cuts. European stock markets were higher ahead of the Christmas break, while Asia stock markets closed mixed.

• Market Outlook. On the final week of the year, we expect window dressing activities to take place, particularly among blue chips stocks. The lower liners, however, may consolidate with trading activities likely to simmer with trading activities to remain thin on a holiday shortened trading week. Healthcare sector may also see improved trading interest following the resurgence of Covid-19 cases. Also, we reckon the resurgence in gold prices may

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