Daily Market Report (5 April 2022)
- US equities ended broadly higher as bargain hunting activities continued particularly on technology stocks.
- The DJI Average was up by 104 points while the Nasdaq surged by 271 points as the US 10-year yield remained stagnant at 2.39%.
- Back home, the FBM KLCI dipped to below the 1,600 level amid some profit taking activities.
- For today, we expect the benchmark index to trend higher along with the stronger regional performance hence anticipate it to hover between the 1,595-1,605 range.
- Meanwhile, the Brent crude rebounded to US$107/barrel as traders do not expect the US releasing of its strategic supply to have any material impact on overall supply.
