Daily Market Report (8 April 2021)

  • Cautious optimism returned on Wall Street buoyed by the Federal Reserves ongoing accommodative policies.
  • Though the Nasdaq was down slightly, the S&P 500 closed on another record high whilst the DJI Average was up 16 points to almost 33,450.
  • As such, we reckon regional markets to remain mixed on the absence of any clear buying catalysts.
  • On the home front, it would be interesting to see if the FBM KLCI is able to sustain above the 1,600 today after a last minute spike-up yesterday.
  • Nonetheless, we believe sentiments to stay tepid and expect the index to trend within the 1,595-1,605 today.