Daily Market Report (4 June 2021)
- Wall Street ended slightly lower after a tough session as investors remained cautious despite upbeat economic data on employment and service sector activity, breaking a 5-day win streak.
- The DJIA closed 0.07% lower to end at 34,577.04. At the same time S&P 500 and Nasdaq fell 0.4% and 1% respectively to end at 4,192.85 and 13,614.51 respectively.
- On the other hand, Asian equities ended mostly lower on previous close as investors on cautious mode due to risk of inflation in the US.
- Meanwhile in the local front, the FBM KLCI closed 0.46% lower to end at 1,590.57.
- We expect the local market to trend sideways due to lack of catalysts and expect the FBM KLCI to hover in the range of 1,585-1,595.
