Daily Market Report (5 Nov 2019)
- Seems like interests on equities are slowly creeping back on the back of clearer outlook on interest rates and also the US/China Trade discussion so far. As such, the FBM KLCI breached the 1,600 level for the first time since mid-September yesterday.
- Meanwhile, the crude oil price uptrend bodes well for the Ringgit as the MYR/US$ has now strengthened to below 4.15 from almost 4.20 only a couple week back. The Brent Crude closed at above the US$62/barrel yesterday.
- Today, we believe the benchmark FBM KLCI to test the 1,610 mark which is seen as the immediate resistance level.
