Daily Market Report (13 Feb 2020)
- Wall Street closed on a high yesterday spurred by easing concerns over the impact of Covid-19.
- Though this may boost sentiments regionally, we prefer to remain cautious as such a view could merely be just an illusion.
- Locally, the FBM KLCI continue to experience a downtrend as investors are opting for the 10-year MGS at the expense of equities.
- Currently, the 10-year MGS yield has dipped to 2.92% which is the lowest since 2004.
- Nonetheless, we expect there to be some nibbling on equities today with the FBM KLCI immediate resistance of 1,550 to be tested again.