MARKET OPEN: Better night on Wall Street may spur local buying

Tue, 16 Jun 2020

The local market may get a lift from improving data in the US and China and further steps from the Federal Reserve to keep credit flowing to US businesses. Wall Street shrugged off earlier losses when the Fed said it is expanding the scope of its US$750 billion emergency corporate debt loan facility to include individual corporate bonds via its secondary market corporate facility. Up until now the emergency lending programme has only purchased exchange-traded funds. “In general, the availability of credit has contracted for corporations a...

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