Daily Market Report (17 Sept 2019)
- Wall Street remains volatile exacerbated by the attack on Saudi Arabia’s Aramco facilities. We reckon there may be some positive knee jerk reactions on O&G related stocks but cautioned that this may only be temporary as the US will release some of its inventory into the market until Saudi’s production resumes to normal level which is estimated to take several months.
- Locally, we expect the FBM KLCI to re-test the 1,610 mark as we noticed that foreign funds had been trickling in of late. Last week saw an encouraging RM495m of net foreign inflow.
