Daily Market Report ( 24 November 2021)
- Wall Street ended mixed as higher 10-year yield saw some sell-down on tech stocks.
- Though the DJI Average rebounded 195 points, the Nasdaq lost almost 80 points to below the 15,800 level as the US 10-year yield inched closer towards 1.7%.
- Back home, the FBM KLCI closed lower to just above the 1,520 level as sentiments remained cautious.
- With 3Q earnings coming in thick and fast, we noticed so far it had been a rather encouraging as most large cap companies displayed resilience with a decent set of figures.
- For today, as the index hovers near its immediate support level, we reckon some bargain hunting to emerge and expect it to trend between the 1,520-1,530 range.
