Daily Market Report (17 June 2022)

  • Wall Street closed sharply lower as the DJIA tumbled below the key 30,000 level for the first time since January 2021 as investors worried the Federal Reserve’s aggressive approach toward curbing inflation would bring the economy into a recession.
  • Back home, FBM KLCI ended higher due to bargain hunting activities.
  • However due to greater market volatility across the region and heavy selldown on Wall Street overnight, we expect the local market to face some headwinds and anticipate the benchmark index to trend range bound within 1,460-1,470 for today.