Daily Market Report (19 May 2020)
- Wall Street surged yesterday on hopes of an early success for a vaccine against Covid-19.
- The DJI Average jumped by more than 900 points to end up above 24,500.
- Therefore, one should expect such optimism to spread across the regional markets today.
- On the local front, we would expect the FBM KLCI to trend higher during the early sessions but may experience some profit taking along the way.
- Hence, we expect the benchmark index to test the 1,425 level and to close around the 1,420.
- Nonetheless, we continue to advise investors to exercise caution.
