Daily Market Report (29 Dec 2020)
Tue, Dec 29, 2020 8:52 AM
- Wall Street cheered as Trump relented as he finally signed the US$900bn stimulus bill averting a government shutdown.
- As a result, the DJI Average jumped 204 points higher to close on a record high at around the 30,400 level and could possibly help push the regional markets higher today.
- On the local front, we believe the FBM KLCI to potentially trend higher today with the 1,650/55 as the immediate resistance levels.
- Again, we reiterate that the crude palm oil prices remained relatively solid hovering at the RM3,800/metric tonnes level hence buying may persist on the laggards amongst the plantation sector.
- As mentioned, logistics companies which has been under the radar for now may see some buying soon.
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