Daily Market Report (18 Sept 2019)
Wed, Sep 18, 2019 9:02 AM
- Stocks on Wall Street continued to rally to its near all-time high level while crude oil price has tapered off to below high breaching USD70/bbl to settle at USD65/bbl, however it will continue to remain volatile.
- All eyes will on Federal Reserve 2-day meeting which will announce its latest decision on monetary policy. Market expectations is for a 25bps cut and this would be the second rate cut in 2019.
- As for our market, we expect the FBM KLCI to remain firmly above 1,600 mark as foreign funds were net inflow for the past week and this week.
