Daily Market Report (17 Sept 2021)
- Global markets struggled to gain momentum on Thursday as Wall Street trended slightly lower with mixed sentiment, weighed by concerns about a possible slowdown in the economic recovery from COVID-19.
- Investors are carefully weighing economic data for signals of how the economic backdrop could impact the earnings picture for major companies.
- The DJIA fell by 63 points to 34,781.32.
- Back home, the FBM KLCI ended flat after a roller coaster trading session on Wednesday.
- The local market is well supported around the 1,550 region by continuous foreign inflow which we believe a positive news for local equities.
- Sustained buying support from foreign funds should see the benchmark index to be well supported at current levels.
- For today, we anticipate the FBM KLCI to hover between the range of 1,560-1,570.
