Loading

Market Overview

MARKET AT A GLANCE

  • Malaysia
  • Regional
27 Mar
08:31 am

Based on the daily chart, a positive move created by another positive closing would confirm the reversal signal yesterday.

Our expectation of near-term weakness was overturned by yesterday’s gains. We opine that the previous few consecutive days of correction was overdone; thus yesterday’s gain could kick-start a reversal and absorb selling pressure. Overall, we expect the FBMKLCI to hover in the range of 1,271-1,364 for the time being, and violation of either limit would spark a follow-through.

See More
26 Mar
10:05 am

Based on the daily chart, the index formed a breakaway gap and penetrated above the previous immediate resistance of 1,320 to close higher at 1,324.50 yesterday.

Currently, the RSI line has risen and is approaching 50pt, which signals weaker selling pressure and thus may push the index higher in the near term. The benchmark index has closed above the BBI line, signalling upward continuation from here.

See More
25 Mar
09:05 am

Based on the daily candlestick, the index pared down earlier losses and closed higher at 1,294.14 yesterday.

However, we remain neutral on FBMKLCI given the current consolidation, unless a negative closing below the immediate support changes the short-term outlook to bearish. For now, we expect the index to trade sideways in the near term.

See More
27 Mar
08:31 am

US stocks were higher after the close on Thursday, as gains in the Utilities, Telecoms and Healthcare sectors led shares higher.

At the close in NYSE, the DJIA rose 6.38%, while the S&P 500 index added 6.24%, and the NASDAQ Composite index gained 5.60%.

See More
26 Mar
10:04 am

US stocks were mixed after the close on Wednesday, as gains in the Oil & Gas, Industrials and Financials sectors led shares higher while losses in the Technology, Consumer Services and Telecoms sectors led shares lower.

At the close in NYSE, the DJIA gained 2.39%, while the S&P 500 index added 1.15%, and the NASDAQ Composite index declined 0.45%.

See More
25 Mar
08:59 am

US stocks were higher after the close on Tuesday, as gains in the Oil & Gas, Industrials and Basic Materials sectors led shares higher.

At the close in NYSE, DJIA 11.37%, while the S&P 500 index gained 9.38%, and the NASDAQ Composite index climbed 8.12%.

See More
CHARTGENIE