Daily Market Report (30 Jun 2022)
- Wall Street closed mixed as all 3 major indices struggled to make any significant rebound with sentiments remained jittery attributed to recessionary fears.
- The DJI Average gained 82 points while the Nasdaq ended 4 points lower as the US 10-year yield edged lower at 3.09%.
- As for the local bourse, the FBM KLCI closed lower amid some late selling activities.
- We reckon trading for today would stay cautious from the lack of catalysts thus expect the index to hover within the 1,440-1,460 range.
- Meanwhile, crude palm oil eased to RM5,080/tonne due to weaker exports data with the Brent crude also ended lower at US$116/barrel on news that the US may release more oil from its stockpile.