Daily Market Report (9 June 2020)

  • US continue with their bullish uptrend on hopes of recovery ahead of the relaxation of lock downs in many countries.
  • The Dow Jones Industrial Average Index gained 460 points to above the 27,500 mark with the Nasdaq hitting record high.
  • Similarly, we reckon such positivity will spread to regional markets today and expect this to also prop up the local bourse.
  • As such, we believe the FBM KLCI to possibly test the 1,580 today very much closer to its pre Covid-19 level.