Daily Market Report (25 October 2022)
- Wall Street continued with its uptrend on expectations that the Federal Reserves may be less aggressive in hiking rates.
- The DJI Average rose by 417 points while the Nasdaq added 93 points as the US 10-year yield inched higher to almost 4.25%.
- As for the local bourse, we reckon the FBM KLCI to trend within a narrow range today with some buying support especially from the local institutions following a rather mixed performance from the regional markets yesterday.
- Therefore, we expect the index to hover between the 1,440-1,455 range today with interests to center on the Telco and Plantation stocks.
- Technology stocks could also be in focus as well as many are also waiting for the earnings report from major Tech companies in the US.
