Investment Daily Note

Market Highlights

The Energy Information Administration reported (EIA) reported a larger-than-expected gasoline inventory drawdown last week which slumped by 3.3 million barrels, compared with estimated a 200,000-barrel drop. Oil-related sectors may bounce with oil prices settle higher.

The Bank of England is expected to announce interest rate decision. Markets forecast it may cut interest rate by 0.25 percentage point and expand the scope of the asset purchase program. Stock prices of foreign banks are estimated to be quite volatile with the decision. Investors are suggested to keep wait-and-see attitude.