Daily Market Report (29 Jul 2020)
- Wall Street declined as traders became concerned over corporate earnings as well as the impacts on the purported new stimulus package from the Federal Reserves.
- As a result, the DJI Average lost 205 points to around the 26,380 level. Meanwhile the US 10-year Treasury rate dipped below the 0.6% to 0.58% which is also a 3-month low.
- Regional equities are expected to remain mixed today from the lack of catalysts.
- As for the local bourse, following a solid performance yesterday we expect the FBM KLCI to be possibly take a breather today and trend within a tight range of between 1,600-1,610.
