Daily Market Report (2 June 2021)
- US equities were flat as optimism over the reopening of the economy was hit by inflationary concerns.
- Meanwhile, the US 10-year Treasury yield hit the 1.6% again.
- Regional markets continued with the uptrend yesterday and we expect this to continue today as we believe foreign funds are trickling into Asia.
- As for the local bourse, though the FBM KLCI was flat, we notice foreign funds again were net buyers yesterday.
- Therefore, we expect the index to trend within 1,585-1,595 range today.
- As for the Brent crude, it broke the US$70/barrel.
