Daily Market Report (29 March 2022)
Tue, Mar 29, 2022 7:51 AM
- Wall Street ended broadly higher as traders shook off recessionary concerns and the ongoing war in Ukraine.
- The DJI Average gained 95 points while the Nasdaq jumped by 186 points despite the US 5-year yield surged pass 2.63% ahead of the 30-year yield of 2.6%.
- On the home front, the FBM KLCI closed below the 1,600 again following some bouts of profit takings.
- For today, we expect the index to possibly trend between the 1,590-1,605 range amid some bargain hunting activities as the country is bracing for the opening of its borders.
- Meanwhile, the Brent crude slid to US$112/barrel due to the latest lockdown in Shanghai.
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