Daily Market Report (13 Jan 2021)
- US equities closed rather flattish as traders were pondering on new stimulus relief amid the political turmoil. The DJI Average climbed 60 points to end at around the 31,070 mark.
- Therefore, we believe regional markets to continue to be mixed. Locally, the FBM KLCI is seen to stabilise today following some panic selling yesterday.
- As some of us are faced with MCO 2.0, we reckon trading activities to improve especially on the smaller caps today. The benchmark index is expected to trend higher today potentially testing the 1,620 level.
- Meanwhile, supplies cuts have had pushed crude oil prices higher with the Brent crude now hovering at above the USD56/barrel again.
