Opening Daily Highlight
Mixed
Marching higher
Mon, 08-Jan-2024 08:00 am
by Research Team • Apex Research

  • Malaysia Market Review. The FBM KLCI (+0.7%) extended its rally, led by surge in YTL and YTL Power on last Friday. The lower liners also marched higher on stronger trading liquidity, while the utilities sector (+2.65%) led gains across the board with only Plantation and Industrial sectors closed in red.
  • Global Markets Review. Wall Street ended higher despite improved jobs data prompting the Federal Reserve to consider delaying rate cuts. European stock markets declined after inflation data rebounded, while Asia stock markets ended lower.
  • Market Outlook. It was another bullish performance by the benchmark index on last Friday after recently breaking the stubborn resistance of 1,465 which had been capped since July 2023. Given the bullish momentum, the FBM KLCI could extend its gains towards the resistance of 1,488. The lower liners are also enjoying a good run with trading volumes steadied above 6.0bn mark. We expect traders to capitalise onto the renewed vibrant trading activities. Looking ahead, investors will be monitoring onto multiple European economic data such as economic sentiment, retail sales and consumer confidence later tonight. Sector wise, the technology sector may stage a rebound, taking cue from the recovery of Nasdaq on last Friday.
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