Daily Market Report (29 Apr 2020)
- Traders relented from their buying spree on US equities as they ran out of reasons to do so.
- As a result, the DJI Average slipped into the red zone down 32 points but still above the 24,000 mark on a highly volatile session yesterday.
- Meanwhile, volatility of crude oil prices remains high as the WTI is still stuck at below the US$15/barrel which is sending bleak signals to the US shale producers amid looming bankruptcies.
- Therefore, we expect regional markets to remain mixed from the lack of any clear indicators.
- On the local front, we anticipate another listless trading session today with the FBM KLCI to trend between the 1,360/80 again.
