Daily Market Report (30 Sept 2020)
Wed, Sep 30, 2020 8:26 AM
- Wall Street succumbed to fears over a possible second Covid-19 wave. The DJI Average lost 131 points to close around the 27,450 level.
- In view of this, we expect regional market to be volatile today with some downside bias.
- On the local front, we expect the FBM KLCI to remain weak although buying interests to re-emerge on the pandemic related stocks.
- Apart from the obvious glove related companies, we like Scomnet, Dnonce and AHB to name a few.
- Therefore, we reckon the benchmark index to stay above the 1,500 mark with a possibility to test the 1,510 today.
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