Daily Market Report (14 Oct 2020)

  • Wall Street retreated as traders took profit ahead of the corporate earnings season plus the delay in the US stimulus package. The DJI Average lost 158 points to close just below the 28,700 level.
  • Therefore, we reckon regional markets to be quite mixed today as some selling may emerge.
  • On the local front, the FBM KLCI will be under some pressure today as the country’s political situation remains fluid.
  • As we enter the 1st day of CMCO within the Klang Valley, we believe the benchmark index to possibly test the 1,510 level which is the immediate support level.