Daily Market Report (23 Oct 2020)
Daily Market Report (23 Oct 2020)

Daily Market Report (23 Oct 2020)

  • Volatility on Wall Street continues as dictated by the still unfinalized stimulus package.
  • Hopes for the stimuli has “yo-yo” over the past few weeks with the latest that an agreement should be finalised soon.
  • As such, the DJI Average added 153 points to inch towards the 28,400 level from the day’s low of around the 28,000 mark.
  • Therefore, we reckon regional markets to see slight improvements following a weak performance yesterday.
  • On the local front, we believe the FBM KLCI breach the 1,500 level with 1,510 being the immediate resistance today buoyed by glove counters on the back of the surging Covid-19 cases globally of late.
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