Opening Daily Highlight
Mixed
Turning stable
Mon, 15-Jan-2024 07:51 am
by Research team • Apex Research

  • Malaysia Market Review. The FBM KLCI (+0.29%) rebounded from two consecutive losing sessions, driven by positive sentiment from the global market. Similarly, the lower liners advanced, except for FBM ACE which remained downbeat. The utilities sector (+2.57%) outperformed the sectoral peers led by buying interest in YTL Power.
  • Global Markets Review. US stock markets concluded last Friday with a mixed performance as investors weighed inflation data and corporate earnings. European stock markets saw a rebound, while the Asian stock markets was down due to drop in China's annual export.
  • Market Outlook. We reckon that the FBM KLCI could stay within a range in the upcoming week as investors adopt a cautious approach, considering the Fed is unlikely to cut interest rates in the near future. The lower liners are also attempting to find a footing following the recent mild retracement. With the improving market conditions, we expect mild bargain hunting activities to emerge. Also, we remain optimistic on the energy sector as tensions escalate in the Red Sea. Crude oil prices persisted its upward trajectory following news on military strikes by Britain and the United States against targets in Houthi-controlled areas of Yemen.
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