Daily Market Report (21 Jul 2020)
- Wall Street was solid overnight as Nasdaq closed at another record high.
- However the DJI Average was flat up a mere 9 points to remain at 26,680 as investors awaits for earnings results amid the worsening Covid-19 cases in the US.
- We reckon regional markets to be mixed today despite the positive trend in China as market consolidation continues for some.
- Locally, the FBM KLCI which saw some selling yesterday after it hit the 1,610 level may experience some correction today. As such, we expect the index to trend between 1,585-1,600 range today.
