Daily Market Report (15 December 2021)

  • US equities closed lower on expectations that the Federal Reserves will hike rates sooner than later.
  • Meanwhile, the spread of Omicron variant has also raised concerns over the recovery of global economy.
  • As such, the DJI Average lost 107 points in a volatile session whilst the Nasdaq shed 176 points to below the 15,300 mark.
  • Back home, regional volatility saw more selling on the local bourse as the FBM KLCI closed at a 52-week low.
  • Despite the market is ripe for some bargain hunting activities, weak market undertone may see the local bourse’s performance to remain underwhelming.
  • Amid the heightened market volatility, we expect the index to hover within the 1,475-1,485 today.