Daily Market Report (24 Sept 2021)
- US equities extended rally as investors appeared relieved about the Federal Reserve’s stance on tapering stimulus and raising interest rates while upbeat outlooks from Accenture and Salesforce helped to bolster the market.
- The DJI Average gained more than 500 points whilst the Nasdaq jumped by 155 points to just above the 15,000 mark.
- As for the local bourse, shares ended broadly higher on bargain hunting activities and foreign support.
- Overall, the performance of FBM KLCI which had been stuck in a consolidation mode in the past few days is likely to trend within a tight range in the absence of positive catalysts going forward.
- We expect the FBM KLCI to hover between the 1,540-1,550 range today.
