Daily Market Report (6 Nov 2019)
- US markets continues its record run on the back of an imminent trade deal with China and global economy seems to be stabilising after a series of interest rate cuts by central banks. Perhaps the worst is behind us as breath of optimism seems to be in the markets.
- At the local front, BNM kept interest rate unchanged in a sign that our economy remains on the right track with FBM KLCI remained above the 1,600 level. Meanwhile, our MYR continues to strengthen to RM4.13, all these are pointing to a long- awaited market rally in the making.
- Hence, we advocate investors to start accumulating stocks for the catching up rally where our benchmark KLCI is still down 4.96% YTD.
