Opening Daily Highlight
Mixed
Ended flattish prior to CNY
Tue, 13-Feb-2024 08:09 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review. The FBM KLCI (-0.01%) ended on a flat note as trading activities slowed down ahead of the festive holiday season. On the other hand, the lower liners closed mostly higher, led by Energy (+0.82%) and Property (+0.80%) sector.

Global Markets Review. US markets closed in a positive note following the release of strong corporate earnings. Meanwhile, the European stock markets edged lower, while Asia stock markets ended mixed.

    Market Outlook. We expect the local bourse to charge higher following the optimism from the global markets. While the improved market sentiment also presents further upsides on the lower liners, we advocate investors to exercise caution with stocks that have rallied rapidly into their overbought zones. Looking ahead, investors will be monitoring US CPI data to be release today. We expect US inflation to ease further below the 3.0% level in coming reading. Meanwhile, we reckon the technology sector will move on an upward trajectory as we expect the sector to mirror the positive performance on Nasdaq overnight. In addition to that, we also favour the energy sector with oil price gaining momentum after tension between Israel and Hamas escalates.

    Sentiment: Neutral
    Read more details in:

    Disclaimer

    The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

    Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

    Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

    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