Daily Market Report (14 May 2019)
- The tit for tat developments between the US and China on trade tariffs continue to be the main focus for global equity markets which is not going to end anytime soon. As such we may see continue market volatility with more downward bias.
- Domestically, the FBM KLCI is supported at the psychological 1,600 level with the next support is seen at the 1,570 mark. Meanwhile, there is a likelihood that China may abandon the import of soya oil and look to crude palm oil (CPO) as the alternative thus providing certain support for the CPO prices in the short term.