Daily Market Report (6 Nov 2020)
- Wall Street continued its rally as the US election results draws near as markets are pricing in Biden victory. US futures were higher today with news on Federal Reserve expected to hold rates steady and highlight that more fiscal support and stimulus are needed.
- Regional markets are expected to continue with the positive sentiment taking cue from bullish US markets yesterday.
- On our local market, yesterday saw broad based pre-budget rally with our KLCI back above 1,500 and we expect follow through buying today.
- Hence, investors should take positions for trading opportunities as crude palm oil price above at RM3,200 level, plantation stocks will be prime beneficiary while healthcare related, personal protective equipment (such as mask) related stocks will also be in focus as more places are on CMCO with Covid-19 numbers continues to be high.
