Daily Market Report (29 April 2022)
- Wall Street rebounded strongly buoyed by a slew of good corporate earnings in particular by Meta Platforms.
- The DJI Average was up 614 points while the Nasdaq closed 383 points higher.
- Back home, the FBM KLCI rebounded to almost the 1,600 level from buying support by foreign funds.
- Meanwhile, the 10-year MGS inched higher to a 5-year high at above the 4.45% mark.
- For today, we can expect some selling to emerge as the local bourse will be closed for three days next week for Hari Raya thus reckon the index to hover within the 1,590-1,600 range.
- Crude prices ticked higher as airstrikes hit Kyiv as the Brent crude closed at almost the US$108/barrel.
