Daily Market Report (12 May 2020)
- It was another field day for traders on Wall Street yesterday on hopes that the US is relaxing its lockdown despite unemployment rate spiked up to a historical high at 14.7%.
- Though the DJI Average ended in the red, the index recovered 200 points from its day low.
- Therefore, we can expect a choppy session today for regional markets following a rather solid performance yesterday.
- Locally, due to the lack of catalysts we expect the FBM KLCI to be stuck within a tight range of between 1,375/90 as we need to ride out the CMCO for another month.
