Daily Market Report (8 Oct 2020)

  • Wall Street yet again was dictated by Trump’s tweet as he backtracked and urged a swift approval for the US stimulus package.
  • As a result, the DJI Average jumped by a massive 530 points surging past the 28,000 mark at 28,300.
  • Therefore, we reckon regional markets to be broadly firmer today. On the domestic front, the FBM KLCI should reverse its losses yesterday following some last-minute selling.
  • We believe the benchmark index to trend above the 1,500 level possibly to around the 1,505/10 range today.