Daily Market Report (25 March 2022)
Fri, Mar 25, 2022 7:40 AM
- Wall Street rebounded on the back of falling jobless claims indicating improving economic recovery in the US.
- The DJI Average gained almost 350 points while the Nasdaq jumped by 269 points.
- As for the US 10-year yield, it closed at the 2.37%.
- Back home, the FBM KLCI ended slightly higher due to some late buying but remained below the 1,600 mark.
- We reckon the index may break above the 1,600 threshold thus expect the index to trend between the 1,590-1605 range today.
- The total reopening of borders between Malaysia and Singapore on April 1, should improve sentiments somewhat especially on tourism and consume related sectors.
- Meanwhile both the Crude palm oil and Brent crude eased to RM6,500/tonne and US$119/barrel respectively.
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