Daily Market Report (17 June 2021)
- Wall Street slumped as the Federal Reserves had indicated that interest rates will be increased sooner rather than later.
- As a result, the DJI Average declined 266 points to just above the 34,000 mark.
- With market volatility to heighten, we reckon regional markets to stay cautious though we expect foreign funds may start to flow into Asian markets eventually.
- Domestically, the FBM KLCI should be steadier as the Parliament is expected to reconvene soon as recommended by the Yang di-Pertuan Agong.
- Therefore, we anticipate the index to possibly trend above the 1,580 mark and hover between the 1,585-1,590 range today.
