Daily Market Report (23 August 2021)
- Wall Street rebounded last Friday from some bargain hunting activities following a minor selldown.
- Many expect US equities are to experience heighten volatility on the back of a liquidity squeeze going forward.
- The DJI Average gained 226 points while the Nasdaq jumped by 173 points.
- For the local bourse, the FBM KLCI saw a slight rebound as the political climate clears.
- As the new administration goes to work with Covid-19 as their main focus, we are hopeful that daily cases to be more under control with an eye on further easing of the economic lockdown.
- Meanwhile, we note that earnings from listed companies are looking solid for the 2Q so far.
- For today, we expect the index to strengthen further and oscillate within the 1,515-1,525 range.
