Daily Market Report (6 Apr 2020)
- Seems like the situation in the US has worsen as the pandemic figures has skyrocketed.
- This may force Trump’s hand for a more stringent lockdown whereby the impact could be more dire for Wall Street.
- The DJI Average lost 360 points to just above the 21,000 mark last Friday and we expect there to be more selling pressure going forward.
- Therefore we can expect another volatile session for the regional markets today.
- Locally the FBM KLCI has been stubbornly holding above the 1,320 support level of which may be re-tested today.
- We remain sellers into strength and advocate investors to remain cautious.
