Daily Market Report (07 Oct 2020)

  • Wall Street was trashed by a tweet as Trump threw a tantrum and call off negotiation of the highly anticipated stimulus package.
  • As a result, all 3 major indices ended the day lower with the DJI Average losing 376 points to end below the 27,800 level.
  • Therefore, we would expect some weakness amongst the regional markets today amid the heightened uncertainty.
  • Locally, late selling activities saw the FBM KLCI to close lower and we reckon investors to stay sidelined today over the uncertainty.
  • As such, the index is seen to trend within the 1,505-1,515 range today.