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19-10-2021 – Here are some Investing and Economic insights:

  • A total of 21,960,911 individuals or 93.8% of the adult population of the country are fully vaccinated as of Sunday (17 Oct) – COVIDNOW portal.
    • With interstate travel allowed now, signs of recovery in the hotel sector and aviation are expected.
  • There was a lot of positive news last week which helped send stocks higher.
    • Bursa Malaysia’s main index, FBM KL Composite Index closed above the 1,600 psychological level amid persistent buying interest especially from foreign funds.
    • In the US, the market was upbeat when seeing jobless claims numbers have dropped, reflecting a slowdown in layoffs and separations as the demand for workers surges.
    • Dow Jones even closed above 35,000 for the first time since 8 Sep.
  • As many economies are recovering from the COVID-19 pandemic, demand for energy has also been stronger this year. Global energy demand is expected to grow by 5% this year from a contraction of 1% last year.
    • For example, Brent crude oil prices had increased to US$82.60 on 5 Oct from US$49.90 early this year.
    • Crude palm oil prices hovered at RM5,129 a metric tonne, near its recent record high. Malaysia is one of the world’s largest palm oil exporter.

 

Do you know?

Colonel Sanders franchised KFC at the age of 65. At 75, He sold his interest in the company for US$2 million (that’s about US$14mil today!) and KFC continued to grow globally.

Better late than never!

 


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