Daily Market Report (22 Sept 2020)
Tue, Sep 22, 2020 8:54 AM
- Wall Street suffered on the uncertainty over the additional stimulus in the US as well as another possible lockdown following a spike in Covid-19 cases in the UK.
- The DJI Average dropped by 509 points to close above the 27,000 mark. The index at one instance declined by 940 points hovering around the 26,700 level.
- As such, there will be no reprieve for the regional markets today. On the local front, we expect the FBM KLCI to experience more selling pressure having broken the 1,500 mark yesterday.
- The rise in Covid-19 cases may spur some buying on glove counters hence we believe the index to hover between the 1,490/1,510 range today.
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