Daily Market Report (19 Sept 2019)
- As widely expected, the Federal Reserve has cut 25bps yesterday and this marks the second rate cut for the year while leaving room for further easing.
- The back-to-back rate cuts have seen most major central banks globally following the easing of rates to support the slowdown in growth in most countries.
- Malaysia which move ahead of the rest with the rate cut back in May has time on its side, and we see no rush to cut rates. As for our equity market, we expect the FBM KLCI to remain range bound within 1,600 level and selective buying opportunities.
