Daily Market Report (08 May 2019)
- As predicted, Bank Negara Malaysia Monetary Policy Committee has cut overnight policy rate (OPR) by 25 basis points to 3% making the first easing in almost three years.
- This is a good move by BNM in view of increasing signs of slowdown in global and domestic economic activities. The rate cut is expected to provide relief and lowers borrowing cost for individuals and many businesses.
- Our stock market stands to benefit from the rate cut hence investors should take the opportunity to selectively buy on weakness in the current market.