Daily Market Report (9 June 2021)
- Wall Street remains stuck in a narrow range as traders are still in their “wait & see” attitude ahead of economic data.
- The DJI Average was down 30 points to end at around the 34,600 mark whilst the Nasdaq gained 43 points inching closer to the 14,000 level.
- In view of this, we believe regional markets to continue to be mixed today in the absence of any clear catalysts.
- Back home, we believe some profit taking may emerge following yesterday’s solid closing.
- Therefore, we reckon the FBM KLCI to hover within the 1,580-1,590 range today.
- Meanwhile, the Brent crude price has surpassed US$72 currently trading at US$72.22/barrel.
