Daily Market Report (11 October 2021)
- Wall Street ended mixed as the US job data came in well short of forecast.
- As the US 10-year yield surpassed the 1.6% mark, we believe market volatility to persists.
- The DJI Average closed flat after hovering within a 200 point range while the Nasdaq lost 74 points.
- On the domestic front, the FBM KLCI performed rather well amid the buying from foreign funds last week.
- We believe such bargain hunting activities to continue thus anticipate the index to trend around the 1,560-1,570 range today notwithstanding the heightened regional volatility.
- Meanwhile, the full opening of inter-state travel within the country should give overall sentiment a boost as well.
