Daily Market Report (7 Apr 2020)
- It is debatable if the Covid-19 situation has improved over in the US and whether it warrants a 1,600 point surge to the DJI Average remains to be seen.
- Anyhow, there is a high likelihood that regional markets may follow the US positivity today.
- Locally, although we may see some buying activities today with the FBM KLCI to maybe touch the 1,350 mark, we reckon such uptrend may draw our sellers which will take the opportunity to sell into strength.
- Therefore, we foresee a rather volatile market today with the immediate support seen at the 1,330 level hence we continue to advise investors to stay cautious.
