Daily Market Report (22 Nov 2019)
Fri, Nov 22, 2019 3:22 PM
- US markets Dow Jones continue to fall for the 3rd day as the uncertainty of trade deal between China and US continues to be watched closely. China’s Vice Premier and chief trade negotiator Liu He is “cautiously optimistic” about reaching a phase one trade deal with US as seen to provide some comfort to the equity markets.
- On our local front, on-going 3Q results have been encouraging even though the FBM KLCI continues to anchor at its support level 1,590 as we expect market to range bound at 1,600 level.
- With YTD net foreign outflow in excess of RM9bn in our equity markets, investors will continue to set their sights and trade on the small mid-cap stocks that has outperformed the larger cap stocks.
- We continue to see value in small mid cap stocks and any pullback is buying opportunity.
