Daily Market Report (19 June 2020)
- It was another rocky session on Wall Street as investors remained tentative on the US economic recovery and Covid-19 cases.
- The DJI Average was down by 270 points at one time before it recovered to close just above the 26,000 level, down a mere 40 points.
- Notwithstanding this, we expect regional markets to remain on consolidation mode today. As for the local bourse, we reckon the FBM KLCI to find its base at the psychological 1,500 mark with the 1,515 as the immediate resistance level.
- Meanwhile, crude prices are improving with the Brent now rebounded to almost US$42/barrel.
