Daily Market Report (9 Dec 2019)
- Buoyed by improving US economic data, investors risk appetite also improved as many switched their attention to equities. As a result, Wall Street saw solid gains last week which we believe will ripple across Asia as well.
- For today, we reckon the FBM KLCI will continue with its uptrend following days of selling pressure and expect the benchmark index to hover between the 1,575/80 levels.
- Supported by renewed optimism over the CPO price, we may continue to see buying interests on plantation related stocks to remain in particular for the small and mid caps.
- In addition, we are confident that buying interests may return to construction related stocks as we anticipate the commencements of mega infra related projects to be rather soon.
