Opening Daily Highlight
Mixed
On an extended consolidation
Wed, 27-Mar-2024 08:04 am
by Research Team • Apex Research

  • Malaysia Market Review. The FBM KLCI (+0.06%) inched higher after a choppy trading session in line with the mostly positive regional peers. The lower liners also marched higher, while the Healthcare sector (+0.88%) topped the mostly positive sectorial peers.
  • Global Markets Review. Wall Street trended lower after erasing all its intraday gains and dipped into the negative territory in the final trading hour as Nvidia’s six-day rally came into a halt, while Apple’s iPhone shipment to China sank 33% yoy in February 2024. The European stock markets closed upbeat, while Asia stock markets finished mostly higher.
    • Market Outlook. Although the key index managed to turn its tide to tip higher yesterday, we continue to advocate a downward bias consolidation ahead of the mid-week break. Still, the lower liners may trend positively, capitalising onto the positive market sentiment alongside with the improved trading liquidity. Economic wise, investors will be keeping an eye onto the release of Malaysia’s Producer Price Index data later today. We expect the healthcare sector to remain bullish, riding onto the improved outlook from glove players, coupled with expansions of medical services and products players. Also, the construction sectors that is charting towards the highest level since mid-2019 is expected to remain upbeat on the acceleration of mega infrastructure projects.
    Sentiment: Neutral
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    Market Mover
    Settlement Rates
    Currency Buy Rates (RM) Sell Rates (RM)
    USD 4.214533 4.248909
    EUR 4.942032 4.952931
    CNY 0.589638 0.591023
    HKD 0.536766 0.541180
    SGD 3.305086 3.332493