Daily Market Report (21 May 2020)
- Sentiments on Wall Street turned positive on reopening optimism.
- The DJI Average gained almost 370 points to stay well above the 24,000 mark. We reckon such optimism may spread across the regional markets today.
- However, potential upside may be curtailed by some profit taking activities.
- On the local front, we believe the FBM KLCI may attempt with its uptrend with an eye at 1,450 mark as crude oil price continues with its ascension as the Brent is now hovering around the US$36/barrel level from only US$27/barrel a week ago.
- Nonetheless, we may see some resistance for the benchmark index around the 1,440/45 range.
