Daily Market Report (8 May 2020)
- Wall Street is turning into a traders’ haven with volatility continues to dominate sentiments as the DJI Average again experienced late selling pattern despite closing on a positive note.
- In line with this, we believe regional markets to remain directionless ahead of US unemployment data for April which is expected to be on a record high tonight.
- Therefore, the local bourse is also seen to be flattish today due to the lack of any positive leads.
- The FBM KLCI again saw very late selling pressure on Wednesday illustrating a high level of nervousness amongst investors.
- Thus, we expect the benchmark index to see some downside possibly re-testing the 1,370 level today.
