Daily Market Report (28 Oct 2020)
- Wall Street continue to slide in the wake of the increasing Covid-19 cases in the US.
- As such, the DJI Average lost another 222 points to trend below the 27,500 level to almost a 1-month low. Therefore, we reckon regional markets to remain weak today.
- On the local front, the FBM KLCI is expected to be under pressure as well but is expected to stay above the 1,500 mark.
- Judging from the unrelenting surge in pandemic cases, we believe investors will continue sticking to health related stocks especially the glove related ones whilst those indirectly involve should benefit at well namely SCOMNET, DNONCE and HWGB.
