Daily Market Report (30 Jan 2020)
- With the virus still dominating headlines, most investors were sidelined amid a plethora of corporate results on Wall Street.
- It is also interesting to note that a large chunk of funds went into the US 10-year treasury as the yield touched below the 1.60% from around the 1.90% at the start of this year.
- Therefore, we reckon interests on equities to remain low with the FBM KLCI to hover within the 1,550/1,560 range.
- Meanwhile, CPO price staged a rebound to above RM2,700/MT following a sharp decline recently and consensus are having some mixed views of the commodity at the moment.
- We are Neutral on the sector.
