Daily Market Report (15 August 2019)
- We are bracing ourselves for another possible regional sell-off following the steep decline over on Wall Street yesterday. Although it is still early days yet in determining recession, investors sentiments of late had been jittery and it does not take much to instigate a selling-down.
- As such we reckon, the selling may have been overdone yesterday. Nonetheless, with investors now becoming more risk averse, any rebound would be met by “profit takingâ€Β activities hence we believe the equity markets will remain volatile over the short term. On the domestic front, the FBM KLCI is seen to be supported at the 1,575 level.
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