Daily Market Report (29 June 2020)

  • Wall Street tumbled on fears of another possible lockdown following a spike in Covid-19 cases in the US namely Texas and Florida.
  • As a result, the DJI Average lost 730 points to stay just above the 25,000 mark.
  • Therefore, we believe regional markets may trend lower today with further weakness on the FBM KLCI as well.
  • The local benchmark index which had been on a consolidation mode of late, may break the 1,480 level today thereafter testing the 1,470 mark.