Daily Market Report (7 June 2019)
- US Dow Jones has rebounded close to 1,000 points for the last three trading sessions on the back of Federal Reserve Chairman Jerome H. Powell saying the central bank is prepared to act to sustain economic expansion if President Trump trade was weakened the economy. The comments were interpreted as such that interest rate cuts could be on the cards.
- Foreign net buying has turned positive for the 4th straight day which is a good sign.
- As this is a shortened trading week for Malaysia with Raya Eid celebrations, we expect our market to also be in holiday mood and will see sporadic trading activity.
