Daily Market Report (20 Nov 2019)
Wed, Nov 20, 2019 8:41 AM
- As expected, the uptrend on Wall Street finally relented as investors came to their senses.
- Valuation on US equities seems to have outpaced their fundamentals following recent record high showings hence funds may have shifted to bonds as depicted by the US 10-year yield which had dipped to below the 1.8% level.
- Locally, the FBM KLCI displayed a rather strong momentum yesterday as the index overcame initial selling to close above the 1,600 level.
- We believe buying to continue thus anticipating the benchmark index to re-test the 1,610 today.
