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Market Overview

MARKET AT A GLANCE

  • Malaysia
  • Regional
20 Aug
08:48 am

From the technical perspective, the outlook for the FBMKLCI remains timid as a lack of catalysts pared down earlier gains.

The index formed a “spinning top” pattern yesterday as selling pressure has been absorbed. Despite a shaky short-term outlook, we remain optimistic for the index to recover once selling pressure normalises. For now, we expect sideways movement ahead with the index likely to consolidate further.

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19 Aug
08:44 am

Despite last Friday’s negative closing, our outlook remains neutral for the short term as we expect further consolidation.

We expect the FBMKLCI to hover at 1,580-1,621 for now, and a breach of either limit would spark a follow-through.

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16 Aug
08:51 am

Despite the upward move on Wednesday, the FBMKLCI was unable to continue with the momentum and closed lower yesterday.

The index penetrated the previous immediate support of 1,588 but closed higher at 1,600.69 yesterday. This suggests investors remain cautious in an uncertain market. The correction looks set to continue as selling pressure grew, as reflected by the negative reading in RSI. Weaker sentiments as well as an absence of domestic catalysts may drag the index lower in the near term.

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20 Aug
08:48 am

US stocks were higher after the close on Monday, as gains in the Oil & Gas, Technology and Consumer Services sectors led shares higher.

At the close in NYSE, the DJIA rose 0.96%, while the S&P 500 index gained 1.21%, and the NASDAQ Composite index climbed 1.35%.

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19 Aug
08:43 am

US stocks were higher after the close on Friday, as gains in the Industrials, Basic Materials and Technology sectors led shares higher.

At the close in NYSE, the DJIA gained 1.20%, while the S&P 500 index climbed 1.44%, and the NASDAQ Composite index climbed 1.67%.

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16 Aug
08:51 am

US stocks were mixed after the close on Thursday, as gains in the Utilities, Telecoms and Financials sectors led shares higher while losses in the Oil & Gas, Technology and Basic Materials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average added 0.39%, while the S&P 500 index gained 0.25%, and the NASDAQ Composite index lost 0.09%.

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CHARTGENIE