Daily Market Report (13 March 2020)
Fri, Mar 13, 2020 10:10 AM
- US markets suffered its biggest drop in a day since 1987 Black Monday crash. Dow Jones has fallen from 29,551.42 in Feb 12 to the current level 21,200.62, a fall of 28.2% in a month ending the longest bull markets by definition.
- Panic has gripped the markets globally on the fear of Covid-19 prompting Fed to step in and has announced a total US1.5 trillion liquidity into the financial system which is akin to start of quantitative easing to calm the markets.
- Regional markets are expected to take a big hit and mirror the drop. Back to our markets, KLCI is going to see the same trend with support level at 1,360.
