Daily Market Report (11 May 2021)
- Wall Street slumped as traders sold down technology stocks and took profit on growth stocks.
- The DJI Average lost 35 points to close at 34,742 whilst the Nasdaq declined by 350 points to end at 13,401.
- In view of this, we reckon regional markets to remain muted today.
- As for the local bourse, the FBM KLCI continue to decline following announcement of nationwide MCO 3.0 which should last until June.
- Therefore, we believe the FBM KLCI to hover around the 1,580-1,590 today.
