Daily Market Report (2 Sept 2021)
- Wall Street closed mixed as trading activities remained muted following a lower than expected job data.
- The DJI Average ended 48 points lower while the Nasdaq was up by 50 points to stay above the 15,300 level.
- Against such backdrop, we reckon regional markets to experience another mixed performance ahead.
- As for the local bourse, late drastic selling activities saw the index dipped to below the 1,590 mark yesterday.
- Nonetheless, we find this correction as healthy after a mini rally since mid-August which saw the benchmark index jumped by almost 7%.
- For today, we anticipate the index to possibly consolidate further with bargain hunting activities to emerge if the index dips below the 1,575 level.
- Looking ahead, we believe the index to trend around the 1,580-1,590 range today.
