Daily Market Report (26 Feb 2020)
- Looks like investors are abandoning all asset classes with many reverting back to “cash is king” status. Wall Street in particular, is looking vulnerable due to its high valuations propped up by the abundance of liquidity.
- We believe the ongoing correction of US stocks are not done as yet hence foresee regional markets to remain jittery.
- Locally, the local bourse is seen to be on a downside bias despite yesterday’s 10 points gain. We stick to our expectations that the FBM KLCI could break the 1,470 level and advise investors to accumulate on weakness.
