Daily Market Report (27 December 2021)
- Wall Street was closed for the Christmas holidays.
- As for the local bourse, last minute buying activities helped push the FBM KLCI to end on a flat note having been in the negative territory for best part of the day.
- Despite a mixed regional performance, we reckon window dressing activities continued to play its part.
- For today, we anticipate bargain hunting may continue amid sentiments to remain cautious thus expect the index to trend within the 1,510-1,520 range today.
- Meanwhile, crude palm oil (CPO) price had breached the RM5,000/tonne to end at RM5,125/tonne whilst the Brent crude price stayed elevated at above the US$76/barrel.