Daily Market Report (14 May 2020)
- A less than positive outlook from the Federal Reserve further spooked investors as Wall Street continue with the slump.
- The DJI Average lost almost 520 points clinging precariously above the 23,000 level marking a decline of almost 1,000 points over the last two days.
- As such, we should see continuing sell-down on the regional markets today as investors jittery persists.
- On the local front, following a heroic performance yesterday the FBM KLCI may see some roadblocks ahead as profit taking activities should emerge.
- Therefore, we expect the benchmark index to reverse yesterday’s gain with 1,390 as the immediate support level thereafter at the 1,380 mark.
