KUALA LUMPUR: Rakuten Trade believes Bursa Malaysia's FBM KLCI to experience some downward bias today following a breather in the Wall Street.
The firm expects the benchmark index to trend between 1,615 and 1,620 points after Wall Street took a breather as traders ponder over the stimulus package amid the rising Covid-19 cases in the US.
"The DJI Average lost 148 points (yesterday) but remained above the 30,000 mark. Thus, we reckon regional markets to be mixed today," Rakuten Trade said.
"As funds continue to realign their portfolios, we expect rubber glove companies to consolidate and prices to remain volatile," it added
Meanwhile, Rakuten Trade said plantation stocks were rather strong yesterday as crude palm oil price remains strong at above the RM3,500 per tonne.
Hence, the firm expects continued buying interests on the sector.
