Daily Market Report (4 August 2021)
- Wall Street rebounded strongly as traders largely ignored the delta variant potential impact on the economic outlook.
- The DJI Average jumped almost 280 points to above the 35,100 level whilst the S&P 500 notched another record high closing at above 4,420 or up 36 points.
- The wild movements of US equity prices of late may see trading on the regional markets to be mixed today.
- Meanwhile, the prevailing political turmoil in Malaysia should overshadow the best part of trading today.
- Hence, the FBM KLCI which saw strong buying support yesterday may experience a reversal today underscore by the jittery sentiments.
- Therefore, we reckon the index to hover around the 1,490-1,500 range today.
