Daily Market Report (11 Mar 2022)
- Wall Street fell as sentiments were spooked by the failed ceasefire talk between Russia and Ukraine.
- The DJI Average lost 112 points while the Nasdaq declined by 125 points.
- With the FOMC meeting looming next week, the US 10-year yield inched higher to almost the 2% mark.
- On the local front, we expect sentiments to remain cautious amid the heightened market volatility thus anticipate the FBM KLCI to trend within the 1,570-1,590 range today.
- Meanwhile, the crude palm oil remains elevated at above the RM7,700 level with the Brent crude easing further to below the US$110/barrel.
