Daily Market Report (8 July 2020)
- Wall Street experienced a pull-back citing fears of the rising coronavirus cases in the US. The DJI Average lost almost 400 points to close below the 26,000 level.
- Therefore, we reckon regional markets may see some form of correction today.
- On the local front, we expect profit taking to continue following the robust performance over the past week. As such we expect the FBM KLCI to take a breather again today and trend on a narrow range of between 1,555/1,565 range.
