Daily Market Report (14 Aug 2019)
Wed, Aug 14, 2019 8:28 AM
- Regional financial markets are anticipated to remain volatile over the short term. Following yesterday’s bloodbath, we reckon the equity markets may see some recovery today buoyed by the improved performance on Wall Street.
- With the DJI Average trending above the 26,000 again (+370 points) we could see some bargain hunting on the local bourse. In addition, the US 10-year yield is now at a 3-year low hovering at 1.69% indicating a strong possibility for a rate cut again by the FEDs soon.
- We expect the FBM KLCI to breach the psychological 1,600 level with the immediate resistance at 1,620.
