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Market Overview

MARKET AT A GLANCE

  • Malaysia
  • Regional
15 Oct
08:48 am

The FBMKLCI climbed further after testing its crucial support level of 1,550, with market reacting positively to the Budget 2020 which was pragmatically expansionary and business friendly.

Should the index close above the BBI level in the next few days, alongside golden crossovers in both MACD and DMI, we expect the index to trend upwards to test the immediate support level of 1,621. Otherwise, the FBMKLCI could continue to trade range-bound as the index is trading below the downtrend line which indicates bearishness.

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14 Oct
08:45 am

From a technical perspective, the FBMKLCI has recovered slightly following the recent sell-down.

However, given that the RSI line remains below the 50pt threshold, we expect the index to continue consolidating within 1,620-1,650. However, should Budget 2020 appear to be market friendly and regional markets be able to continue to close in the positive territory for the next few days, we expect a spillover of positive sentiment to lead to a possible technical rebound in the FBMKLCI. Otherwise, the technical rebound should be temporary as the index is trading below the downtrend line which indicates bearishness.

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11 Oct
08:41 am

Based on the chart, the FBMKLCI continued to form a lower high and lower low yesterday to close in positive territory in the last minute.

Nevertheless, the daily chart analysis shows selling pressure has not yet been fully absorbed, thus paving the way for a possible downtrend ahead.

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15 Oct
08:48 am

U.S. stocks were lower after the close on Monday, as losses in the Basic Materials, Utilities and Telecoms sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average declined 0.11%, while the S&P 500 index fell 0.14%, and the NASDAQ Composite index lost 0.10%.

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14 Oct
08:45 am

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

At the close in NYSE, the Dow Jones Industrial Average gained 1.21%, while the S&P 500 index added 1.09%, and the NASDAQ Composite index gained 1.34%.

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11 Oct
08:40 am

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

At the close in NYSE, the Dow Jones Industrial Average gained 0.57%, while the S&P 500 index climbed 0.64%, and the NASDAQ Composite index gained 0.60%.

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