Daily Market Report (17 Oct 2019)
- Looks like market volatility is not relenting anytime soon. With fund managers now working overtime jumping from equities to treasuries and vice versa, one can expect profit taking activities to emerge on the local bourse following yesterday’s rather reasonable gains.
- Overall sentiments on Bursa Malaysia namely the blue chips remain a big yawn as foreign funds remain net sellers with a net outflow of almost RM9bn YTD.
- Nonetheless, we expect liquidity continues to channel into the small/mid cap space on rotational plays. Immediate support for the FBM KLCI is seen at the 1,560 level.
