Daily Market Report (30 Jul 2020)
- Wall Street ended higher as the Feds has pledged to continue assisting the economy depending on the course of the pandemic in the US.
- As a result, the DJI Average gained 160 points to close above the 26,500 level on some late buying activities. Hence, we reckon regional markets to be broadly higher today following a few days of consolidation.
- On the local front, we expect the FBM KLCI to test another year high today after some solid buying support yesterday.
- The benchmark index is seen to test the 1,620-mark following a late rebound due to domestic buying support.
