Daily Market Report (25 October 2021)
- Wall Street endured another mixed session last Friday as traders turned cautious amid inflationary fears and policy tightening by the Federal Reserves.
- Though the DJI Average gained 74 points to another record high, the Nasdaq lost 125 points.
- On the local front, profit taking activities continued even though we noticed there were some bargain hunting activities.
- The FBM KLCI dipped below the 1,590 level as volume dried up from the lack of buying catalysts.
- Overall sentiments turned cautious from external factors noticeably due to heightened trading volatility.
- As we edged towards Budget 22 this Friday, we reckon trading to remain cautious as many are curious if is enough to revive the nation’s economy.
- For today, we expect the index to hover between the 1,585-1,595 range.
