Daily Market Report (27 August 2019)
Looks like global equity markets will swing according to Mr Trump’s mood. Whilst he is the main culprit in creating the prevailing volatility, Trump may have played his final card with China. The U-turn yesterday showed exactly his folly against China and may be a little too late in trying to amend the damage.
Though we may see some buying today, recent wild market movements would have frightened off the more risk averse investors. Any rebound may be countered with some profit taking activities hence we do not foresee any sharp improvements in the equity markets over the near term and 1,620 to be the immediate resistant level for the FBM KLCI.
