Daily Market Report (4 Nov 2019)
- We expect market sentiment on the local bourse to improve today following the intermittent correction coupled with the record high ending on Wall Street last Friday. The Ringgit is showing signs of strengthening now hovering at RM4.16/US$1 from RM4.19 a week before.
- This may be a precursor that foreign funds trickling back into the country which could be positive news for domestic equities. Therefore, we anticipate the benchmark FBM KLCI to test the psychological 1,600 mark again.
- Hence one may take the opportunity to look into last week’s laggards within the FBM KLCI index namely Press Metal, MISC, and Dialog.
