Daily Market Report (18 June 2021)
Daily Market Report (18 June 2021)

Daily Market Report (18 June 2021)

  • Wall Street were mixed on the back of the Federal Reserves recent timeline on rates hike.
  • Though the DJI Average declined 210 points to around the 33,800 level, tech heavy Nasdaq jumped by 122 points to 14,161 as traders believe there is still some upside in the short term.
  • As market volatility heightens, we believe regional markets will continue to be mixed over the immediate term.
  • Back home, the FBM KLCI retreated after a promising start as investors became uneasy over the time frame as to when the Parliament will reconvene.
  • As such, we reckon the index to remain stuck within a range of 1,565-1,575 today from the absence of clear buying catalysts.
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