Daily Market Report (23 Apr 2020)
- Trading pattern over on Wall Street has been erratic to say the least as traders are having a field day with equities thus far.
- As expected, following the sell-down on Tuesday, the DJI Average recouped most of its losses by closing 450 points higher as if everything has stabilised.
- As such, we reckon regional markets may start the day on a positive note but may close off highs as many would prefer to lock in some profits.
- Locally, the FBM KLCI continued with its resilience to close above the 1,380 level yesterday.
- As for today, we expect the index to hover between the 1,370/90 levels with some downside bias.
