Daily Market Report (31 December 2021)
- Major indices on Wall Street all closed lower despite a better than expected job data as trading remained thin.
- The DJI Average lost 90 points whilst the Nasdaq was down 25 points. We reckon market volatility to persist regionally as we head towards the final trading day for 2021.
- Back home, the FBM KLCI closed marginally lower amid some profit taking activities.
- We believe some window dressing may continue and expect the index to hover between the 1,540-1,550 range today.
- Meanwhile, confirmation of a RM1,000 cap on stamp duty is certainly good news for the local bourse and we expect this should boost overall trading activities.
