Daily Market Report (18 Oct 2019)
- The local bourse seems to be rather well supported at current levels. Interestingly we also saw the return of foreign buying after a lengthy hiatus. Over the last 2 days, there were net foreign buying of almost RM300m which was unheard of during the past months.
- If such buying is sustained, we may see the FBM KLCI to re-test the 1,600 anytime soon. Meanwhile, we reckon liquidity remains gravitated to the small/mid cap companies amid some rotational plays.
- Technology and Construction related companies remain as our preferred picks namely SKP Resources, PIE, D&O, Vertice, Vizione and KAB.
