Opening Daily Highlight
Mixed
Positive spillover spur extended rebound
Tue, 23-Jan-2024 08:06 am
by Research Team • Apex Research

  • Malaysia Market Review. The FBM KLCI (+0.32%) extended its gain amid mixed regional markets performance after Wall Street ended higher overnight. Similarly, the lower liners closed higher, with all sector closed green except for the Plantation sector. Utilities sector and Construction sector led the gains with +2.14% and +1.86% respectively.
  • Global Markets Review. US stock markets extended their rally by posting second record high close, driven by tech stocks. Investors are eagerly awaiting upcoming corporate reports for insights into this year's profit outlook. Similarly, European stock markets closed higher led by tech stocks, while Asia stock markets finished mixed amid sluggish performance from China and Hong Kong market .
  • Market Outlook. Given the robust and sustained rally in the Wall Street, we opine the positive sentiment may continue to spillover into local bourse. However, cautiousness prevails over the unabated massive sell off/ negative sentiments on selected lower liners. For now, investors will be monitoring onto the BNM OPR decision and US GDP data later this week. We are optimistic on technology sector given with positive sentiments of the sector in global market. Meanwhile, investors may look into construction and property sectors with the investment theme of HSR project and Johor SEZ.
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