Daily Market Report (13 Sept 2021)
- Wall Street continued to be plagued by the recent poor job data coupled with concerns over the delta variant which may hamper US recovery.
- The latest court ruling against Apple further weighed the DJI Average as the DJI Average declined by 272 points to just above the 34,600 level.
- As for the local bourse, the FBM KLCI continued with its correction as profit taking activities persisted.
- The index had lost 25 points since hitting a high above 1,600 on end-August and we reckon it to be under some pressure today amid the heightened volatility amongst the regional markets.
- Therefore, we expect the benchmark index to consolidate further and anticipate it to trend around the 1,570-1,580 range today.
- One positive is that the Klang Valley continues to display a decline in Covid cases.
