Daily Market Report (16 March 2021)
- Wall Street surged as traders are optimistic of the reopening of US economy soon with both the DJI Average and the S&P 500 closed on record highs.
- The DJI Average was up 175 points to almost the 33,000 mark while the S&P 500 is closing in on the 4,000 level. As for the regional markets, we reckon performance today may be rather mixed as investors are wary of the buying exuberance over in the US.
- On the domestic front, we believe the FBM KLCI to remain stuck within a trading band from the lack of strong buying interests.
- Therefore, we expect to see the index to hover around the 1,620/25 levels today.
