Daily Market Report (10 Oct 2019)
- There seems to be a temporary reprieve of sorts for the equity markets ahead of the US/China trade talk. Though such headline news seems positive, we have been through this path numerous times and would not bet that there to be any agreement in sight between the two superpowers.
- As such, we continue to remain cautious and eagerly wait for the tabling of Budget 2020 tomorrow. Therefore, we reckon the broader market to remain nonchalant with buying interests zeroing on construction related companies.
- We expect the FBM KLCI to test the 1,550 level and may even break this psychological level today.
