Daily Market Report (10 June 2020)

  • US stocks took a breather yesterday on the pre-text of growing political tension within the Korean Peninsular and the potential re-emergence of the US/China trade war.
  • The DJI Average lost 300 points to settle around the 27,300 mark. Therefore, we see some correction in Asian markets today after a solid run-up.
  • Locally, the FBM KLCI being one of the best performers in the region may succumb to some selling today.
  • Thus, we expect the benchmark index to possibly test the 1,555/60 levels today.
  • Meanwhile, crude oil price continues with their uptrend with the Brent now touching US$41.20/barrel.