Daily Market Report (01 Nov 2019)
- Bursa Malaysia turned hero yesterday as the benchmark FBM KLCI jumped by almost 18 points to the 1,600 mark. Interests reverted to the blues with most Banking stocks gained by between 2-5%.
- Whether yesterday’s uptrend is sustainable remains to be seen as sentiments are still jittery amid concerns over the US/China Trade talk resurfacing again.
- Therefore, we reckon the local bourse may encounter some profit taking today as the FBM KLCI may face with some headwinds as it approaches the 1,600 level that is now a psychological resistance level.
