Daily Market Report (9 August 2021)
- Wall Street closed rather mixed on better-than-expected job data amid the increasing cases of Covid-19 cases.
- The DJI Average gained 144 points to a record high above 35,200 while the Nasdaq was 59 points lower as the US 10-year yield trended above the 1.3%.
- Meanwhile back home, the FBM KLCI which closed weaker last Friday is expected to see some strength today in view of the staggered easing of the domestic economy.
- The Prime Minister is to announce the relaxation soon in particular for those that have had full dosage of vaccination.
- Therefore, we anticipate the index to trend higher and hover within the 1,490-1,500 range today.
- Nonetheless, we believe trading to remain muted as the market will be closed for Awal Muharram tomorrow.
