Daily Market Report (27 April 2021)
- Wall Street ended mostly higher as investors geared up ahead the quarter earnings season. S&P500 rose 0.18% to all time high at 4,187.62 while Nasdaq climbed 0.9% to 14,138.78, hitting its first fresh record close since February as investors are expecting strong results on tech and related heavyweights such as Microsoft, Apple, Facebook and Google.
- Nonetheless, the Dow Jones Industrial Average lost 61.92 points, or 0.2%, to 33,981.57, dragged down by P&G, Walmart and Coca Cola.
- Regionally, key indices are set to open mixed as investors await the Bank of Japan’s interest rate decision.
- In the local front, the FBMKLCI surged 0.94% or 15.04 points yesterday to close at 1,623.47, breaking the strong resistance 1,610 level thanks to rally in rubber glove, telco and healthcare counters.
- We expect the local market to continue its momentum given strong investor sentiments testing the immediate resistance of 1,635.
