Daily Market Report (9 Oct 2019)
- The global volatility storm continues to bombard the financial markets over the immediate term as we do not foresee any solution in sight. It is now all rather tense for US/China, the Middle east and Britain as we all are guided into a realm of uncertainty.
- Judging by the jittery sentiments we reckon it will require a lengthy path to recovery if there is any. For now, volatility will continue to orchestrate the trading pattern as we expect another day of downside bias for the local bourse.
- The FBM KLCI is seen to be rather well supported at the 1,550 level ahead of Budget 2020 amid constant foreign selling. Nonetheless, we would advocate investors to look at construction related counters as the market are generally expecting roll-out of certain mega projects.
- Within the small cap space, we like Vertice, Crest Builders, Vizione, Inta Bina and TRC.
