Opening Daily Highlight
Mixed
Turning directionless
Tue, 27-Feb-2024 05:36 pm
by Research Team • Apex Research

• Malaysia Market Review. The FBM KLCI (-0.10%) edged mildly lower after a choppy trading session, dragged down by weakness in selected plantations and Genting-related heavyweights yesterday. The lower liners ended mixed, while the Transportation & Logistics sector (+1.09%) outperformed to close near all-time high level.

• Global Markets Review. Wall Street ended slightly lower after erasing all its intraday gains with investors turning cautious ahead of a barrage of economic data as well as keynotes from Federal Reserve speakers. European markets retreated, while Asia stockmarkets closed mostly negative.

• Market Outlook. We expect the FBM KLCI to remain in a consolidation mode amid the absence of fresh leads with investors eyeing onto the impending release of banking heavyweights’ quarterly earnings. Meanwhile, US markets are expected to remain choppy as investors continue to search for clues over the direction of interest rates outlook.Back home, investors will be keeping an eye onto the Producer Price Index data to be release later today. We continue to favour the Transportation & Logistics sector with the Baltic Dry Index remained upbeat. With the government move to widens service tax scope to include almost all types of maintenance and repair (M&R) jobs, while it provided exemptions for certain logistics services,

Sentiment: Neutral
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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