Daily Market Report (8 Jan 2020)
- Middle East tension has taken for the worse with Iran’s latest retaliation on reports that missiles were fired targeting US airbase in Iraq with crude oil price and gold price jump on the news.
- Regional markets are expected to see risk off mode and take a beating. Likewise, we expect FBM KLCI to see weakness and may test 1,600 support level.
- Nevertheless, there are still trading opportunities as investors could position themselves on the Oil & Gas stocks such as Hibiscus, Armada, Yinson, Icon and gold related stocks such as Bahvest or Gold ETFs.
