Daily Market Report (16 June 2020)
- Wall Street staged a remarkable rebound on news of more stimulus from the Feds.
- The DJI Average recovered by around 900 points to close the session almost 160 points higher to just below the 25,800 mark.
- With this, regional markets may see some recovery following the sell-down yesterday.
- On the local front, the FBM KLCI should see a mild recovery at around the 1,500-1,520 levels after a steep decline yesterday.
- Nonetheless, we remain cautious on equities as many are inferring of a 2nd Covid-19 wave coupled with the escalating tension between South and North Korea amid the fragile sentiments.
