Daily Market Report (5 Oct 2020)
- Concerns over the worsening pandemic and Trump’s health sent Wall Street reeling as sellers swamped trading activities.
- However, news of an impending stimulus package saw some late buying as the DJI Average closed off lows as it lost 134 points at 27,682.
- As such, we reckon regional markets to be steadier today following a mixed session last Friday.
- On the local front, we expect the FBM KLCI to continue with its uptrend as we saw some late buying to push the benchmark index above the 1,500 level.
- In view of this, we expect the index to trend within the 1,500-1,510 range today.
