Daily Market Report (23 Jan 2020)
Daily Market Report (23 Jan 2020)

Daily Market Report (23 Jan 2020)

  • Bank Negara Malaysia cut OPR by 25bps to 2.75% yesterday. The move surprised us as there were no such pre-emptive measure elsewhere. With the move, Banks may have to reprice their products with the MGS to see some buying activities pushing the 10-year rate closer to the 3.0% level.
  • Amid the lower interest rate environment, we reckon investors may opt for high dividend stocks. Amongst others, we like Maybank, Ambank, CIMB and KIP REIT.
  • As for the performance of equities, we believe the prevailing fear of the Wuhan virus will continue to plague trading activities with the FBM KLCI to find some support at the 1,570 level.