File picture shows an investor monitoring stock prices in the gallery of the RHB Investment Bank Bhd headquarters, July 16, 2018. — Bernama pic
“We note that Wall Street has remained cautious the past two days as investors patiently await new signs leading to a potential rate cut by the Fed. Current sentiment in the market indicates the Fed will lower rates by 25 points at the end of July,” he told Bernama. “The underlying inflation is seen to be stable in the absence of strong demand pressure, a positive indicator for economic growth,” he added.
Meanwhile, Public Bank rose six sen to RM23.12, as IHH Healthcare and Axiata improved one sen to RM5.81 and RM5.18 respectively. The FBM Emas Index shed 29.72 points to 11,879.94 and the FBM Emas Shariah Index was 37.74 points weaker at 12,259.43. Main Market volume narrowed to 1.59 billion shares worth RM1.86 billion from 1.64 billion shares worth RM1.56 billion.
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