Daily Market Report (21 Sept 2021)
- Wall Street tumbled as traders switched on their selling mode ahead of the Federal Reserves meeting today plus the troubled China property market.
- The DJI Average lost 660 points to below the 34,000 level while the Nasdaq saw an even steeper decline by 330 points or 2.2%.
- The local bourse was not spared either impacted by regional weaknesses as selling reverberated across the region.
- The FBM KLCI broke several support levels as it closed below the 1,530 mark.
- As market undertone remains jittery, we reckon trading to stay cautious today.
- Though bargain hunting may prevail, we believe trading on the local bourse to be tepid amid the heightened market volatility hence we expect the index to trend within the 1,520-1,530 range today.
