Daily Market Report (08 Oct 2019)
Daily Market Report (08 Oct 2019)

Daily Market Report (08 Oct 2019)

  • We believe the local bourse to remain in the doldrums in the absence of any catalysts for the time being. Reflecting investors sentiments now at its lowest ebb, foreign funds continue with their selling as net foreign outflow has now touched RM8.7bn year to date.
  • Disappointedly we reckon majority of the foreign fund managers are not expecting much from Budget 2020 hence the persistent selling on domestic equities.
  • As a result, the Ringgit is not performing either hovering at almost the MYR4.20/USD1 level displaying underlying weaknesses amid the shift to a low interest rate regime within the region.
  • Expect the FBM KLCI to remain stuck in its consolidation phase within the 1,550-1,560 range today.

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