Daily Market Report (21 Oct 2020)
- Though Wall Street closed higher on optimism of an imminent stimulus package, volatility still reigned over trading activities as main indices all closed off their daily highs.
- The DJI Average closed 113 points higher at 28,300 off its day high of almost the 28,600 mark. In view of this, we reckon regional markets to remain mixed today.
- As for the local bourse, we believe the FBM KLCI to possibly stage a rebound today following yesterday’s late selling activities.
- We reckon market undertone to remain positive on the back of the surge in retail participation of late. Therefore, the benchmark index is seen to hover within the 1,515-1,520 range today.
