Daily Market Report (20 December 2021)
- US equities closed lower on Friday weighed down by tech stocks as investors worried about the Omicron variant.
- All three main US indices declined for the week after the Fed on Wednesday interest rate to rise by the end of next year to combat surging inflation.
- As for the local bourse, the FBM KLCI surged 1.17% to 1,502.01 on Friday due to bargain hunting and window dressing activities.
- Nonetheless, we prefer to remain vigilant due to the heightened market volatility and external uncertainties.
- As such, we anticipate the FBM KLCI to trend within the 1,495-1,510 range for today.
