Daily Market Report (15 Feb 2021)
- Wall Street ended higher on hopes of imminent economic recovery couple with possible pandemic relief package.
- As a result, all three major indices closed at record highs with the DJI Average up 28 points to almost the 31,500 mark.
- While most regional markets will reopen today after closing for the Lunar Chinese New Year festivities, we believe the local bourse will continue to trend higher today following a rather strong showing last week.
- The FBM KLCI which was 21 points higher last week is seen to breach the 1,600 today with 1,610/15 as the immediate resistance.
- Though interest is still lacking on the Oil & Gas stocks of late, we reckon with the Brent crude now trending above US$63/barrel may attract buying interests soon.
