Daily Market Report (9 November 2022)
- Wall Street continued with its uptrend as traders are waiting for the outcome of the US mid-term elections of which many are hoping the Republican to do well to put President Biden under pressure.
- The DJI Average jumped 334 points higher while the Nasdaq added 52 points as the US 10-year yield eased to 4.13%.
- On the home front, the FBM KLCI maintained its range bound performance as it closed flat attributed to some late buying on Financial and Healthcare counters.
- We expect regional performance to remain mixed ahead of the US election results thus expect the index to trend between the 1,435-1,450 today.
- It is also anticipated that the Plantation and Oil & Gas stocks may experience some selling pressure today as prices of crude palm oil and crude oil weakened due to demand concerns.
