Opening Daily Highlight
Mixed
All eyes on US inflation data
Tue, 09-Apr-2024 07:52 am
by Research team • Apex Research

  • Malaysia Market Review. The FBM KLCI (+0.30%) ended higher yesterday, buoyed by robust economic data in Malaysia and a positive spill-over sentiment from global markets. The lower liners, however, retreated, while the Utilities sector (+1.01%) outperformed among the sectorial peers as investors turned defensive.
  • Global Markets Review. Wall Street main indexes struggled for direction as investors awaits further details regarding the Fed's policy. Meanwhile, both European and Asian stock markets are mostly higher ahead of central bank decision.
  • Market Outlook. We anticipate the local bourse to continue trade flat today on the eve of the mid-week festive break as investors turns to the sideline while keeping an eye on key US economic data. Any further gains is expected to be tempered by quick profit taking activities on signs of foreign fund outflows over the interim. Key economic focus will be directed towards US inflation rate, FOMC minutes, US PPI data and ECB interest rate decision to be release in coming days. The introduction of ew tiered pricing mechanism with lower rates for the Green Electricity Tariff (GET) programme is set to impact the power-related sector. Meanwhile, plantation-related stocks could face a short-term setback as the RSI approaches the overbought zone.
Sentiment: Positive
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Market Mover
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USD 4.181481 4.210795
EUR 4.888655 4.893553
CNY 0.590894 0.591496
HKD 0.538181 0.541948
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