Daily Market Report (22 May 2020)
- Wall Street finally corrected as traders took profits citing the escalating US/China tension and a rebound of Covid-19 cases in the US.
- The DJI Average declined by around 100 points to close below the 24,500 level. Therefore, we reckon regional markets to continue with their consolidation today.
- Following a rather positive week, where the FBM KLCI had gained by more than 70 points we believe the benchmark index to experience some correction.
- As such the FBM KLCI may dip below the 1,450 mark to around the 1,445 level today.
