Daily Market Report (31 July 2019)

  • We believe the equity markets are in for a choppy ride today following the trade talk impasse between the US and China. The situation could be exacerbated by the earnings shortfall in the US which so far had been below expectations.
  • Though we expect the FBMKLCI to be flattish today, regional markets are seen to experience some profit taking today. Expect the FBMKLCI to retest the 1,640 level again with immediate resistance at the 1,650 level.