Daily Market Report (23 Jul 2020)
- Wall Street ended higher on renew hopes of a vaccine for Covid-19. The DJI Average gained 165 points to finally close above the 27,000 level.
- Nonetheless, we reckon regional markets to be rather mixed today on the back of the escalating tension between China and the US.
- On the domestic front, the FBM KLCI which saw some late selling activities broke the 1,590 support level yesterday thus we believe the index to possibly test the immediate support at 1,580 before rebounding to the 1,590 mark as the regional markets take heed of the latest stimulus package in the US.
