Daily Market Report (5 Nov 2021)
- US equities closed rather mixed as the Federal Reserves will start its tapering program this month amid some strong economic data.
- The DJI Average lost 33 points to remain above the 36,100 level while the Nasdaq jumped by 129 points nearing the 16,000 mark.
- Back home, the FBM KLCI continued to see some selling pressure. Foreign fund sellers emerged as the index was kept at the 1,530 level for most of the afternoon session.
- We believe such patter to persist and expect the index to remain under selling pressure over the short term.
- For today, we anticipate the FBM KLCI to trend within the 1,525-1,535 range.
