NVDA
NVIDIA
-- 140.140 TSLA
Tesla
-- 394.360 FUBO
FuboTV
-- 5.460 PLTR
Palantir
-- 69.990 MU
Micron Technology
-- 101.910 Malaysia market commentary (6 Jan 2025)
Global markets
US equities markets closed the week with gain, DJ (+0.80%), S&P500 (+1.26%) and Nasdaq (+1.77%).
VIX subsided from 17.9% to 16.1%, indicating better risk appetite. Interestingly, US Treasury 10 years further advanced to 4.62% from 4.56%. and bond futures market reduced expectation of 25 bps rate cut from 1.8 to 1.5 times in year 2025.
NFP will be released this Friday whereby survey expects additional of 154k job in December. Besides, Fed will release minutes this Thursday of its December 25 bps rate cut where Chair Powell reiterated that it was a “closer call” and hawkish tone.
Malaysia markets
Local Macro
Local currency couldn’t defend against strong USD as USDMYR creeped higher from 4.4785 to 4.4970. This is a broad USD strength, rather than just weakness of MYR. It can be shown that SGDMYR plunged from 3.33 before Christmas to close at 3.28 last Friday.
KLCI Performance
KLCI continued declining 2 days in a row and settled at 1,630 (-7.50).
Malaysia equity flow (MYR million)
Foreigner sold local equities (approximately MYR 44 mil last Friday) after 3 days inflow.
Sectoral performance (%)
Stocks on focus:
There were many interesting stocks on focus last Friday. There was strong demand for property stocks such as $SIMEPROP (5288.MY)$ (+6.13%), $UEMS (5148.MY)$ (+10.38%).
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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