Daily Market Report - 22 June 2021
- US equities recouped most of last Friday’s steep decline as traders returned with a vengeance on solid bargain hunting activities.
- Despite the outlook remains unchanged, the buying pushed the DJI Average 590 points higher to close at almost the 33,900 mark.
- On the back of this, we believe regional markets to improve today following a dismal performance yesterday.
- On the local front, we should expect a rebound today as well and anticipate the FBM KLCI trend higher within the 1,575-1,585 range.
- Meanwhile, the uptrend of the Brent crude price has been rather relentless as it is hovering around the US$75/barrel currently.
