Daily Market Report (9 Apr 2020)
- Wall Street surged overnight on hopes that the US is not far from the peak of the prevailing pandemic.
- The DJI Average closed above the 23,000 mark, up by almost 780 points.
- Therefore we reckon such optimism may influence the Asian markets today albeit a short-lived one.
- Locally, we would expect the FBM KLCI which had been rather resilient to test the immediate resistance of 1,370 today.
- On the flipside, we reiterate that the immediate support for the benchmark index is at 1,350.
- Overall, we would remain cautious amid the wild swings of the market of late.
