Daily Market Report (29 December 2021)
- Wall Street ended mixed as profit taking took place following a record breaking run.
- The DJI Average jumped 96 points to almost the 36,400 mark while the Nasdaq lost almost 90 points.
- We reckon sentiments may turned cautious amid the surge in Omicron cases globally hence heightened market volatility.
- On the home front, the FBM KLCI continued with its uptrend buoyed by window dressing activities to end up on a 2-month high.
- Though we expect ongoing bargain hunting to continue, sentiments may turn lukewarm ahead of a more volatile regional performance.
- As such, we expect the index to trend around the 1,535-1,545 range today.
- Meanwhile, crude oil prices remained high with the Brent currently trading near the US$80/barrel.
