Daily Market Report (20 May 2022)

  • Inflationary concerns saw traders dumped equities as Wall Street closed lower.
  • The DJI Average declined by 237 points while the Nasdaq lost 30 points as the US 10-year yield ended lower at around the 2.84% level.
  • As for the local bourse, the FBM KLCI closed lower amid the weaknesses across the region.
  • As uncertainties continue to dictate sentiments, we reckon the index to remain stuck within its consolidation mode of between 1,540-1,555 today.
  • Meanwhile, the crude palm oil also ended lower at RM6,650 tracking the softer soya prices.