Daily Market Report (13 August 2021)
- US equities ended on positive territory following a volatile session.
- All major indices opened steeply lower but were propped up by some rotational buying activities late in the session.
- The DJI Average was up 15 points inching towards the 35,500 level whilst the Nasdaq recovered to above the 14,800 mark, up 51 points.
- As for the local bourse, fresh developments on the political front may suppress trading today as sentiments is expected to remain cautious.
- With politics again dominating the investment climate, we reckon the FBM KLCI to encounter some selling pressure today.
- As such, we expect the index to trend around the 1,495-1,505 range today.
