Daily Market Report (26 October 2021)
- US equities closed at record highs ahead of corporate earnings report from major tech-based companies.
- The DJI Average was up 64 points to above the 35,700 mark whilst the Nasdaq jumped by 136 points.
- As for the local bourse, the FBM KLCI continued to move sideways from the lack of fresh leads.
- We reckon such trend to persist though the market is seemed to be well supported from foreign funds.
- For today, we expect the index to hover between the 1,585-1,595 range.
- Meanwhile, crude palm oil rebounded as October is well on its way to be a record breaking month for CPO average at above the RM5,000/tonne threshold for the first time ever.
