Daily Market Report (20 May 2020)
- Sellers took centre stage on Wall Street yesterday as high hopes for a Covid-19 vaccine turned out to be a disappointment. The DJI Average lost 390 points but remain above the 24,000 level.
- Therefore, one can expect profit taking on regional markets to emerge today following some solid performances yesterday.
- As for the local bourse, we believe the FBM KLCI to be stubbornly supported by the local institutions but may soften today to around the 1,410/15 range as investors may want to take the opportunity to lock in some profits.
