Opening Daily Highlight
Mixed
Lacklustre ahead of Lunar New Year break
Fri, 09-Feb-2024 08:06 am
by Research team • Apex Research

  • Malaysia Market Review. The FBM KLCI (-0.05%) edged marginally lower after erasing all its intraday gains, dragged down by more than half of the key index components yesterday. The lower liners, however, advanced with the Construction sector (+1.78%) leading the pack.
  • Global Markets Review. US markets closed marginally higher after a choppy trading session as major indices recovered their intraday losses as bond markets faltered. European stock markets ended mixed, while Asia stock markets closed mostly on an upbeat note.
  • Market Outlook. Ahead of the extended Lunar New Year festive break, we expect the local bourse to remain sideways with investors turning to the sidelines. Likewise, the lower liners may trend within rangebound pattern with selective trading opportunities may ride onto the improved sentiment. Economic wise, the Malaysia unemployment rate will be in focus which we expect the figure to hold steady at 3.3-3.5%. Commodities wise, the firmer CPO prices and oil prices may alleviate trading interest within plantation and oil & gas stocks.
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