Daily Market Report (3 Nov 2021)
- Wall Street rose to record highs again on the back of strong corporate earnings. All 3 major indices closed on a high with the DJI Average ended at above the 36,000 mark.
- As for the local bourse, the FBM KLCI was propped up by bargain hunting activities following a sharp sell-down on Monday.
- We reckon trading to be rather muted today as most will be away for Deepavali celebration tomorrow. Thus, we expect the index to hover around the 1,530-1,540 range today.
- Meanwhile, the crude palm oil price recovered to around the RM5,400/tonne due to weaker output. We also noticed that the monthly average price for CPO in October hit a record high as well at RM5,050/tonne.
- For beer drinkers, be prepared to pay more as prices will be revised higher by the 15th this month.
