Daily Market Report (22 Jan 2020)
- Global markets were on cautious mode on the news of the continued spread of Coronavirus which have reached US shores.
- Memories of SARS epidemic back in 2002 and 2003 have caused knee jerk reaction to the markets, nevertheless the impact would be temporary.
- On the local front, FBM KLCI is expected to be listless and hover around the 1,590 level with focus continue to be in gloves, healthcare and tech related stocks.
- Today’s IPO listing of Powerwell Bhd which have been heavily oversubscribed could see investors chasing the stock up and will be good for trading.
