Daily Market Report (18 March 2021)
- US equities rebounded following the Feds statement that there will be no rate hike over the next 2 years. All 3 major indices closed positively after earlier losses with the DJI Average closing at a record high above the 33,000 mark.
- Regionally, we may see a firmer performance after a rather mixed closing yesterday. As for the local bourse, we noticed that the FBM KLCI remains stuck in a consolidation mode despite yesterday’s later buying activities.
- As such, we would expect the index to again trend within a narrow range of within the 1,625/30 range today.
- Nonetheless, the broader market undertone is quite positive with trading activities centred predominantly on the smaller caps as market volume has been building up over the past week.
