Daily Market Report (26 Nov 2019)
Tue, Nov 26, 2019 8:57 AM
- We anticipate the local bourse to trend higher today following yesterday’s disappointing performance.
- As Wall Street remains rather strong due to flush in liquidity as valuations on US stocks seems a tad rich at current levels hovering at 18x forward PER as opposed to the average of 15x for the DJI Index.
- In view of this, we reckon funds may look elsewhere for better valuations and Asia’s emerging markets seems to be good bets. Today, we believe the FBM KLCI to re-test the 1,600 level to break its prevailing consolidation mode.
