Daily Market Report (17 December 2021)
Daily Market Report (17 December 2021)

Daily Market Report (17 December 2021)

  • US equities ended lower as the Fed signalled it may raise interest rates at least three times in 2022 to taper inflation.
  • The DJIA and S&P500 shed 0.08% and 0.87% to end at 35,897.64 and 4,668.67 respectively. Tech stocks led the retreat in the market as investors considered the impact of the Federal Reserve's aggressive pace of interest-rate increases as it combats high inflation.
  • Nasdaq fell 2.47% for its worst day since September, to end at 15,180.43.
  • As for the local bourse, FBM KLCI ended marginally higher on improving market sentiment over the region.
  • Nonetheless, we prefer to remain cautious despite the bargain hunting yesterday as we prefer to remain cautious due to the heightened market volatility and external uncertainties.
  • Hence, we expect the benchmark index to hover within the 1,480-1,490 today.
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