Daily Market Report (4 Nov 2020)
- Traders are betting on a clear winner for the latest US Presidential election as the DJI Average gained by more than 550 points to end at almost the 27,500 mark.
- Nonetheless, the delay in Ant’s IPO on the Shanghai and Hong Kong exchanges may see some caution emerging in Asia’s largest markets thus may cascade to the regional bourses.
- Meanwhile, on the local front the FBM KLCI has been finding it hard to break out from its consolidation hence we expect it to hover around the 1,470/75 region today amid the rising Covid-19 cases where the authorities may need to relook at the prevailing SOP.
