Daily Market Report (20 August 2021)
- US equities were mixed and closed off lows as selling continued on expectations that the Federal Reserves will stop their bond buying activities soon.
- The DJI Average lost 66 points while both the S&P 500 and Nasdaq closed positively following a weak opening.
- On the domestic front, the FBM KLCI closed lower from late selling due to a weak regional performance coupled with another record high Covid-19 cases touching almost the 23,000 mark.
- Nonetheless, foreign funds were buyers with its fifth consecutive net inflows into the local bourse of which we have not seen for a very long time.
- For today, we reckon the index may trend within the 1,510-1,520 range as sentiments remain cautious.
