Daily Market Report (9 Nov 2021)
- US equities closed at record highs again after the Congress passed the US$1 trillion infrastructure package.
- The DJI Average was up 104 points to above the 36,400 mark whilst the Nasdaq added 11 points to almost the 16,000 level.
- On the local front, the FBM KLCI inched higher from bargain hunting activities and we reckon the same should continue today.
- With the Malaysia/Singapore border set to reopen by end November, sentiments should further improve as the domestic economy improves.
- Therefore, we believe the index to hover within the 1,530-1,540 range today.
