Daily Market Report (10 Feb 2020)

  • With the virus remains unrelenting, latest job data in the US compounded the already battered confidence as Wall Street succumbed to profit taking activities across the board.
  • Therefore, we believe regional markets to face with some headwinds today. We expect the local bourse the same with the FBM KLCI seen to dip below its immediate support of 1,550 level.
  • Meanwhile, we reckon if this pandemic is prolonged, there is a high likelihood that the Feds may look at reducing interest rates again to boost the US economy.