Daily Market Report (2 Feb 2021)
- Notwithstanding a stronger closing, volatility reigned on Wall Street as sentiments were affected by the GameStop saga.
- The DJI Average gained 229 points to top the 30,000 level but was still off by 100 points from the day high.
- As for the local bourse, we would expect some rebound today after a frenzy session last Friday as the index ended at 1,566 after having nearly touched the 1,600 mark during early session.
- We would expect investors to bargain hunt on a broader basis today thus the FBM KLCI is seen to possibly test the 1,575 level today.
- Meanwhile the crude palm oil remains rather solid with prices rebounded to almost the RM4,000/metric tonne again.
