Daily Market Report (2 Aug 2019)

  • It need not require a genius to see that equity markets are set to see some selling today following our favourite president Trump imposing additional tariffs on Chinese goods.
  • Whilst the move will see higher prices for US consumers, overall impact on global economy is expected to see a setback. Although the local bourse is anticipated to see support at 1,630 level, we continue to advocate investors to BUY on dips especially for index linked stocks.
  • On our radar would be banking stocks which were sold down over the last few days in particular Maybank, Public Bank, CIMB and RHB Bank.