Daily Market Report (6 Sept 2021)
- Wall Street closed mixed last Friday on the back of a disappointing job data which came in short of expectation.
- This may create some uncertainty on the Federal Reserves tapering stance. The DJI Average lost 74 points while the Nasdaq closed 32 points higher.
- In view of this, we reckon trading amongst the regional markets to be mixed today.
- On the local front, we expect the FBM KLCI to continue with its ascension following a positive closing last Friday.
- Buying support from foreign funds are expected to continue thus we believe the benchmark index to trend higher today.
- Though overall Covid cases remains high, we noticed that the figures of both Selangor and Kuala Lumpur are improving which may see more good news of the highly populated Klang Valley.
- Therefore, we anticipate the index to hover within the 1,590-1,600 today.
