Daily Market Report (11 Jan 2021)
- US equities closed higher after a volatile session as traders are hopeful of another stimulus package amid the disappointing US job data.
- The DJI Average edged up 57 points to close at almost the 31,100 mark while the Nasdaq ended the session on a record high at around the 13,200 level. Nonetheless, we expect regional markets to be mixed today in view of the unpredictable Wall Street.
- Back home, we expect the FBM KLCI to experience some weaknesses today amid the surging Covid-19 cases. Thus, we expect the benchmark index to trend lower today potentially testing the 1,620/25 levels.
- On a more positive note, crude oil prices continue to climb with the Brent now hovering above the USD56/barrel.
