Daily Market Report (2 March 2020)
- It is going to be another interesting day for regional equities following Wall Street continuous decline last week. We reckon there would be more volatility ahead as sentiments has turned extremely cautious now.
- Treasuries are currently at record lows with the US 10-year yield now at 1.11% thus we would expect foreign funds to U-turn back to Asia seeking for safer havens with reasonable yields like Malaysia with its 10-yield hovering at 2.83%.
- As such, MYR is set to strengthen vis-à-vis the US$. Meanwhile the FBM KLCI is expected to test the 1,470 today after which the 1,450 would be the next support level.
