Daily Market Report (7 October 2021)
- All 3 major indices on Wall Street rebounded from their session lows as the US government secured an agreement to extend the country’s debt ceiling.
- The DJI Average ended 102 points higher while the Nasdaq added 68 points to close above the 14,500 level.
- Back home, the FBM KLCI surprised everyone with a strong performance. Investors snapped up plantation stocks as the crude palm oil price continues to advance.
- Nonetheless, we prefer to remain cautious as profit taking activities may emerge thus expect the index to trend around the 1,550-1,565 range as regional volatility could play a part.
