Daily Market Report (9 Nov 2020)
- Stocks are set for a good showing today as positive knee jerk reaction towards President elect Joe Biden and most importantly the ouster of Trump.
- As the US futures are currently trading at almost 300 points higher, we expect regional markets to react positively as well.
- At the local front, the FBM KLCI having surpassed the 1,500 level rather convincingly, we reckon the index to continue with its uptrend further with the 1,530 as the immediate target thereafter to challenge the 1,550 mark.
- Meanwhile, we noticed that the crude palm oil price remains resilient at above the RM3,300/mt thus should have positive effect on plantation stocks.
