Daily Market Report （1 September 2021)
- Major indices on Wall Street closed flat as trader are pondering on fresh impetus amid the Federal Reserves imminent tapering of easy money.
- The DJI Average was in negative territory for the whole session and ended 36 points lower.
- In view of this, we believe regional markets to continue with their mixed performance today.
- On the domestic front, the FBM KLCI displayed another impressive performance on Monday as it stayed above the 1,600 mark.
- Foreign funds continued to pour into the local bourse with more than RM1.1bn of net inflows over the last 3 days.
- We expect the momentum to continue thus expect the index to chart higher although some correction is anticipated.
- For today, we reckon the index to oscillate within the 1,595-1,605 range.
