Market Pulse - 24Aug23 - Rebound in the technology sector to be seen

However, traders may shift their attention towards Jerome Powell’s speech during the Jackson Hole Symposium as the statement that he will deliver may change the mood of the market. Commodities wise, the Brent crude oil traded mildly below USD83/bbl, while the CPO prices stayed above RM3,800/MT. With Nasdaq rising for the past 3 sessions, coupled with the strong set of results from Nvidia, we expect the buying interest may return to the technology sector. Meanwhile, the expectation of stronger earnings within the O&G stocks could sustain the movements within the Energy sector. Also, we are still optimistic on the overall conditions within the building material segment. 

Grow your investment with us

Start investing with a single click.

Open Account