Daily Market Report (29 Nov 2019)
Fri, Nov 29, 2019 10:38 AM
- Just when one expected a solution from the US China trade discussion, in came party pooper Mr Trump over the sensitive issues in Hong Kong and may jeopardise any potential encouraging outcome. With this latest uncertainty, we foresee more market volatility ahead.
- To make matters worse, US stocks are now deemed expensive predominantly propped up by excess liquidity and are extremely susceptible to any market vagaries.
- On the flipside, we believe it is a matter of time before foreign funds will make a U-turn back to Asia for value proposition where the local bourse may benefit from some spillover effects. Expect the market to try break the 1,585 mark and re-test the 1,590 level.
