Daily Market Report (15 July 2020)
- News of potential vaccine for Covid-19 helped push Wall Street to higher levels with the DJI Average gaining 556 points to close at almost the 26,650 level. This is despite a spike up of coronavirus cases in the US.
- Notwithstanding this, we expect regional markets to see a rebound today after yesterday’s decline.
- Locally, we envisage the FBM KLCI to break the 1,600 mark today following yesterday’s blip.
- As such, we expect the benchmark index to hover within the 1,610-1,615 range.
- Meanwhile, we continue to advocate investors to exercise caution as the US – China trade tension escalates.
