Daily Market Report (14 January 2022)

  • US equities tanked as sentiments turned jittery affected by inflationary concerns and the Federal Reserves’ tapering policy again.
  • Selling was evident as the Nasdaq lost 381 points to close below the 15,000 mark whilst the DJI Average declined by 177 points.
  • As for the local bourse, the FBM KLCI continued with its uptrend as it rebounded to almost the 1,570 level from some late buying activities.
  • Nonetheless, we believe the local bourse to see some headwinds today amid the heightened regional volatility. T
  • herefore, we expect the index to hover around the 1,560-1,575 range today as market undertone may become cautious.