Daily Market Report (10 March 2021)
- Easing bond yields have had investors back with a vengeance as US equities recovered all round.
- Though the DJI Average closed off its record high at above the 32,000 mark, the Nasdaq surged by 3.6% following a spate of profit taking activities over the last few days.
- In view of this, we believe regional markets to see improved performances all round today. As for the local bourse, we reckon the ongoing uptrend to continue after a much needed improvement yesterday.
- Hence, we expect the FBM KLCI to possibly test the 1,635 level today with interests to centre on the laggards especially the plantations stocks.
- If yesterday’s price surge in MSM Holdings Bhd was due to higher commodity price, then why are we not seeing the same for Crude Palm Oil (CPO) players? CPO has again broken the RM4,000/metric tonne level yesterday.
