Daily Market Report (21 April 2021)
- Wall Street slumped as sellers came out in force on concerns of a spike in global Covid-19 cases.
- All 3 major indices declined with the Nasdaq leading the way losing 128 points to close below the 13,800 level while the DJI Average closed around the 33,800 level after giving up more than 250 points.
- In view of this, we reckon regional to remain mix today as a mild consolidation takes place.
- On the home front, late buying helped pushed the FBM KLCI to above the 1,605 mark from broad based buying.
- Nonetheless, we doubt the buying is sustainable hence the index is expected to remain stuck within a narrow range of between 1,600-1,610 today.
