Daily Market Report (20 March 2020)
- Wall Street rebounded yesterday but we remained unimpressed. With the quadruple witching due tonight for US options, market volatility is expected to heighten.
- As such, many may view yesterday’s market stability as temporary. As a result, we would expect regional markets to remain volatile with some downside bias today.
- Locally, we continue to see selling with immediate support at 1,200 for the FBM KLCI despite the 1% cut in SRR by Bank Negara yesterday.
- The only saving grace for the market is that crude price rebounded with the Brent surpassed the US$30/barrel.
