Daily Market Report (25 Feb 2020)
- Regional markets spiralled downwards on fears of the Covid-19 aggression. Wall Street was also spooked by the pandemic as the DJI index slumped over 1,000 points yesterday. The local bourse also declined but predominantly due to our internal political scenario.
- All in all, it will be another devastating day for equity markets today as we expect there to be more sell-down. Malaysia not only saw a sell-down on equities as bonds also suffered. As a result, the MYR closed at a 2-year low of RM4.22/US$1.
- In view of this, we can expect more selling on the local bourse today with the FBM KLCI expected to test the 1,470 level thereafter the 1,450 mark.
