Daily Market Report (26 March 2021)
- It was another volatile session on Wall Street as all 3 major indices closed higher following a weak opening.
- US equities are at a crossroads now between economic recovery and the loss of stimulus hence we can expect continued volatility ahead.
- The DJI Average gained 199 points to above the 32,600 level, a swing of almost 500 points after losing 350 points at one point.
- Though we can expect regional markets to experience some volatility, we noticed some foreign funds are trickling into Asia hence most will close firmer today.
- Back home, the FBM KLCI may see ongoing consolidation and hover within a tight range of 1,595-1,605 today as investors will monitor developments on the UMNO Assembly over the weekend.
- On a positive note, we noticed some accumulation from foreign funds yesterday.
