Daily Market Report (6 April 2021)

  • Wall Street closed at record high again as traders are optimistic of a swift US economic recovery from the pandemic.
  • The DJI Average was up 374 points to breach the 33,500 level whilst the S&P 500 closed 58 points higher at almost the 4,100 mark.
  • As such, we believe regional markets to maintain their uptrend today after a rather strong performance yesterday.
  • Back home, though the FBM KLCI closed marginally lower yesterday, we expect bargain hunting to continue particularly from the foreign funds albeit at a muted manner.
  • Despite the ongoing market consolidation, we believe the benchmark index to test the 1,590 level and beyond today.