Daily Market Report (9 December 2021)

  •  US equities closed firmer as traders continue to see that impact from the new Covid variant may not be as serious as previously thought.
  • The DJI Average ended 35 points higher at around the 35,800 level while the Nasdaq gained 100 points at almost the 15,800 mark.
  • Meanwhile, sentiments on the home front remained weak as the FBM KLCI closed lower amid some profit taking activities.
  • Judging by the weak market undertone and the lack of buying catalysts, we reckon the index to trend within the 1,490-1,500 range today.
  • Crude palm oil (CPO) closed lower at RM5,270/tonne amid the weaker soya prices.