Daily Market Report (10 June 2021)
- US equities retreated as traders remained cautious ahead of inflationary concerns.
- The DJI Average declined by 150 points to end up at the 34,400 level.
- Meanwhile, the US 10-year yield fell to below the 1.5% or the lowest in 3 months.
- With the prevailing uncertainties, we expect regional markets to remained mixed today.
- On the home front, market undertone is expected to remain weak amid the unrelenting Covid cases.
- Hence, we reckon the FBM KLCI to hover within the 1,570-1,580 today.
- Meanwhile, the premium for the takeover of IJM Plantation by KLK may be a good indication that the prevailing elevated crude palm oil prices may be here to stay.
