Daily Market Report (4 May 2021)

  • US equities surged on hopes of an earlier reopening of economic activities in the US.
  • As such, the DJI Average jumped 238 points to close above the 34,000 level again.
  • In view of this, we believe regional markets to potentially trend higher today following yesterday’s muted activities.
  • On the local bourse, the FBM KLCI is expected to continue with its consolidation.
  • The index is seen to hover around the 1,585-1,595 range today with anticipations of some bargain hunting activities.
  • Meanwhile, the crude palm oil prices ended April on a high averaging at RM4,220/metric tonne.