Daily Market Report (6 Aug 2019)
- Equity markets are expected to see some volatility today following the massive sell-down on Wall Street yesterday. The DJI Index lost almost 770 points on fears of a repercussion from the China/US ongoing trade spat.
- In addition to this, the Chinese yuan slumped to its 10-year low at 7.05/US$1. In view of this, the Feds may be pressured to revise interest rates lower to counter the weakening Yuan thus we may see some temporary adjustments for now.
- BUY on weakness especially on index linked banking stocks
