Daily Market Report (12 April 2022)
- Sentiments on Wall Street turned jittery weighed on by higher yields and upcoming inflation data.
- The DJI Average lost 413 points while the Nasdaq declined by 299 points as the US 10-year yield inched closer to the 2.8% level.
- Back home, the FBM KLCI ended lower after a positive opening due to some profit taking activities amid a weak regional market performance.
- For today, we reckon market undertone to remain cautious as regional weaknesses is expected to persist thus anticipate the index to hover the 1,590-1,610 range.
- Meanwhile the Brent crude slipped to below the US$100/barrel on concerns over demand from the lockdown in Shanghai.
