Daily Market Report (22 June 2020)
- Traders cited increasing Covid-19 cases as the main reason for equity markets consolidation amid heightened volatility.
- On Wall Street, the DJI Average lost almost 210 points to close below the 26,000 mark. Therefore, we believe the regional markets to be quite mixed today as sentiments remain jittery.
- On the local front, we continue to see the 1,500 mark as the psychological support level with the 1,515 as the immediate resistance level.
- Meanwhile, the improving crude prices had the Brent price rebounded to US$42.30/barrel.
