Daily Market Report (15 Oct 2020)

  • US stocks closed broadly lower as hopes for an early stimulus package wanes hence pushing the DJI Average 165 points lower to just above the 28,500 mark.
  • As such, we reckon regional markets to remain mixed with some downside bias.
  • Domestically, the FBM KLCI which was rather volatile yesterday may continue to consolidate on potential new developments on the political front coupled with the persistently high Covid-19 cases.
  • Therefore, we see the FBM KLCI to continue trending within the 1,510-1,530 range without any decisive breakout.