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.