Daily Market Report (22 July 2021)
- Wall Street’s recovery continued as sentiments were buoyed by the better than expected earnings with inflationary fears are now largely being ignored for now.
- The DJI Average jumped by 286 points to closed at almost the 34,800 level while the Nasdaq gained 133 points to breach the 14,600 mark.
- Though, we believe regional markets may take cue from the US market, surging Covid-19 cases within the region will continue to hamper any solid buying thus foresee another day of mixed performances.
- On the local front, we reckon the FBM KLCI performance to remain lackluster amid the unrelenting local Covid-19 cases.
- Though there were improvements in the overall market volume, sentiments is expected to be cautious hence the index is seen to trend around the 1,510-1,520 today.
