Daily Market Report (25 Jan 2021)
- Traders became cautious as uncertainty looms over Biden’s latest US$1.9 trillion stimulus package Though the Nasdaq closed on another record high on solid earnings from the big tech companies, the DJI Average was 179 points lower to end just below the 31,000 mark.
- As such, we believe regional markets to remain mixed today from the lack of catalysts. On the local front, the FBM KLCI again suffered from late selling but managed to remain in positive territory.
- Nonetheless, we reckon the benchmark index to climb above the 1,600 today and trend possibly around the 1,605 level amid the price volatility amongst the glove stocks.
- Interests may continue to centre on the smaller caps today spearhead by the tech companies following a strong close last week.
