Daily Market Report (23 June 2020)

  • US equities closed firmer after a shaky start predominantly boosted by technology stocks.
  • The DJI Average closed above the 26,000 mark or 153 points higher despite the US seeing a spike-up in Covid-19 cases.
  • Regional equities are expected to remain mixed following yesterday’s weak performance.
  • As for the local bourse, we reckon sentiments to remain jittery notwithstanding yesterday’s positive closing.
  • Therefore, we expect the FBM KLCI to continue consolidating within the 1,500/1,515 range.
  • Meanwhile, crude oil prices inched higher with the Brent now above the US$43/barrel.