Daily Market Report (6 Oct 2020)
- Wall Street closed broadly higher on news that a stimulus package should be finalised sooner than later coupled with Trump’s release from the hospital.
- As a result, the DJI Average gained 466 points surging pass the 28,000 mark. For today, we expect regional markets to trend higher following yesterday’s solid performance.
- On the local front, the FBM KLCI buoyed by yesterday’s late buying should see more upside today to potentially testing the 1,520/30 range.
- Meanwhile, after a prolonged consolidation amongst the lower liners, we detected liquidity is returning on these stocks hence we advise investors to take advantage of the prevailing low levels.
