Daily Market Report (24 Sept 2020)
Thu, Sep 24, 2020 8:15 AM
- Wall Street resumed its fall led by tech sector after a day of reprieve as the rebound has fizzled out on the rising coronavirus numbers and the stalemate in new stimulus plan.
- The Dow Jones closed 1.92% lower to 26,763.13 level while the Nasdaq went below the 11,000 level down 3.02% at 10,362.98 while the S&P 500 fell 2.37% to 3,236.92.
- Regional markets will be under pressure today arising from the weaker US markets.
- On our local front, yesterday’s govt RM10bn Prihatin stimulus and assistance package is likely to lend support to the KLCI with support level seen at 1,480 and investor should adopt the buy on weakness strategy.
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