Daily Market Report (11 March 2020)
Wed, Mar 11, 2020 9:11 AM
- A regional bloodbath was averted yesterday as investors came out in force to prop equity markets into positive territory. Nonetheless the broader market sentiments remain fragile as we believe yesterday’s performance was only a relief rally.
- Locally, the FBM KLCI at one point gained by more than 20 points before it closed a mere 6 points higher yesterday.
- As such we reckon investors will take any opportunity to sell into strength thus any upside will be curbed and expect more pressure on the FBM KLCI with immediate support at 1,420. We continue to advocate caution.
