Daily Market Report (21 Apr 2020)
Tue, Apr 21, 2020 8:20 AM
- Finally, the correction that we have been anticipating should happen today.
- With crude oil doing something unprecedented where its May futures went negative, Covid-19 in the US remains unrelenting.
- As a result, the DJI Average declined by almost 600 points in a volatile late session yesterday.
- As such, we expect regional markets to experience some selling across the board today.
- On the local front, the FBM KLCI which have had surprised many of late will see some downside pressure today with immediate support level at the 1,400 mark.
- Though trading opportunities still prevails we still advise investors to exercise caution.
