Opening Daily Highlight
Mixed
Market Review & Outlook
Wed, 24-Jan-2024 07:49 am
by Research Team • Apex Research

  • Malaysia Market Review. The FBM KLCI (+0.33%) closed with its third consecutive gains which in line with positive regional performance mainly spillover from Wall Street overnight. Lower liners closed mixed, with Logistic and Financial sector as top gainers ahead OPR announcement while Healthcare sector as top loser mainly due to selling pressure in glove counters.
  • Global Markets Review. US stock markets took a breather with closed mixed as investors awaiting key economic data and companies’ earnings releases. Investors are eagerly awaiting upcoming corporate reports and key economic data (GDP and PCE) for insights into this year's profit outlook. Meanwhile, European stock markets closed lower after losing positivity momentum on Wall Street, while Asia stock markets finished mostly higher after news on more China stimulus plan
  • Market Outlook. Given that the positive momentum has faded in the global market, we opine KLCI may took a breather as well. Meanwhile, the improved sentiment in the selling off of small-cap stocks may provide upside for lower liners. Investors will be continued to monitoring onto the BNM OPR decision and US GDP data later this week. We are optimistic on Logistic sector after a news of Chinese authorities considering a further stimulus package worth 2 trillion yuan. 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