Daily Market Report (03 Oct 2019)
- Looks like more pressure on Asian equities today on the back of weaker US economy (no thanks to Trump) and his latest tariff move on European goods.
- With the negative effects now rippling back to the US economy, Trump may have more bullets in coercing the Federal Reserves to cut rates more aggressively.
- Meanwhile, we may have to brace ourselves for more volatility going forward as funds would again be shifting back to Bonds on expectations of more rate cuts. Locally, the FBM KLCI is currently sitting on a 5-year low with support seen at the 1,530 level.
