Stock market summary for end of 2023
The index continued its upward trend, reaching 1,590, with potential to break the 1,600 resistance level. Indicators suggest strong buying momentum.
Funds may shift towards Asian markets due to U.S. market uncertainties. The REIT sector remains resilient, while the plantation sector benefits from rising CPO prices.
• Technical Outlook: The FBM KLCI formed a doji candle, with indicators still positive. Key resistance is at 1,630, with support around 1,570.
• U.S. Markets: The S&P 500 closed flat after a strong rally, while the Dow dropped (-0.4%) and the Nasdaq gained (+0.4%).
• Asian Markets: Hong Kong’s Hang Seng surged (+3.7%) on AI optimism, while China’s indexes were mostly flat. Japan’s Nikkei fell (-0.8%) due to a stronger yen, and South Korea’s KOSPI rose (+0.3%) amid mixed U.S.-India political signals.
YTL Corp highlights undervalued assets, landbank and construction pipeline, with BUY rating maintained and RM3.44…
The improved formulations now offer an added nutritional support with Lutein, a nutrient that helps…
FWD Takaful and MBSB Bank have entered a bancatakaful service agreement to promote and market…
Brand Finance’s Airlines 50 2026 report shows Malaysia ranks 14th globally by total airline brand value at $3 billion
Samsung crossed the $1 trillion market value milestone, driven by AI smartphones, booming semiconductor demand…
Nonetheless, it is highly expected that an intermittent correction may emerge anytime soon
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