Daily Market Report (4 May 2020)
- In a bid to divert his blunders, Trump threatened to impose additional tariffs on China as a punishment for the lack of notice on Covid-19.
- As his integrity is slipping down the drain, Wall Street did the same with the DJI Average losing more than 600 points to crash below the 24,000 mark.
- Therefore, we can expect another roller coaster ride for the regional markets today as sellers should dominate activities. Locally, the relaxation of the MCO today may be a welcome news however many chose to remain cautious.
- Thus, we anticipate the FBM KLCI to face with some selling pressure retesting the 1,380 support level.
- On a more positive note, the improved crude oil price recently may be reflected from the strengthening of the MYR against the USD now at RM4.30 from RM4.45 in March.
