Malaysia market commentary (26 Dec 2024)

Ken Low wrote a column · Dec 26, 2024 08:25

Global markets

US equites continued rally, propelled by tech stocks on Christmas Eve. Nasdaq +0.9%, S&P +1.1%, Nasdaq +1.4%. Investors continued to buy US equities for the seventh straight week, across the board, from ETF to single stock. Inflow reached USD 10 billion.

Interestingly, US equities advanced while US Treasury 10-y yield climbed higher to 4.59%, short distance from YTD high of 4.73% in April.

Malaysia markets

Local Macro

As we last chat, there was some resistance at 4.50 region for USDMYR. USDMYR hovered around 4.4870. Malaysia govvy 10-y yield settled unchanged at 3.87%.

KLCI Performance

Local index still enjoyed flirting with 1,600 level. KLCI managed to close higher at 1,602 (6.79) before Christmas holiday.

Malaysia equity flow (MYR million)

Malaysia market commentary (26 Dec 2024)

Offshore sold local equities continuously.

Local retail participation was not high, about 21%. While local institutions dominated the volume, around 44% while foreign contributed 35%.

Sectoral performance (%)

Stocks on focus:

$VANZO (0333.MY)$ was the 3rd most actively traded single stock. VANZO settled at 0.180 (+0.015) with 28.9 million shares changed hands. This company manufactures air fragrance, scented candles, car vent perfumes, aroma diffusers and essential oil that made of plant extracts with zero alcohol.

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Ken Low

Head of Dealing, Moomoo Malaysia

Experienced trader at bank, covering equity, FX, commodity & derivatives. Specialize in market making & flow trading.

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