Daily Market Report (25 March 2021)
- Sentiments on Wall Street remain jittery as all three major indices slumped following strong earlier sessions.
- Despite the lower 10-year Treasury yield, the sell-off on tech stocks were unrelenting as the Nasdaq lost 2% or 266 points while the DJI Average declined 3 points after a 300-point gain.
- As such, we reckon regional markets to continue with their consolidation amid the heightened volatility today.
- On the home front, we expect the FBM KLCI to possibly experience bargain hunting momentum to continue albeit in a more muted manner.
- Therefore, we believe the index to again trend within a narrow range of within the 1,595-1,605 range today.
