Wall Street Rises, KLCI Consolidates Amid Foreign Profit Taking
Wall Street ended positively, supported by strong economic data, particularly lower jobless claims. The Dow Jones Industrial Average (DJIA) rose 260 points, while the Nasdaq gained 108 points. The US 10-year yield also edged up to 3.796%. In Hong Kong, the Hang Seng Index (HSI) continued its upward trend, reaching a 14-month high near 20,000. Positive sentiment was bolstered by President Xi Jinping’s commitment to stimulate the private economy through additional easing policies and stimulus.
Wall Street Rises
On the domestic front, the FBM KLCI saw a slight decline, affected by profit-taking by foreign funds in the afternoon. Daily trading volume remains low at around 3 billion, suggesting prolonged consolidation within the local market. The index is expected to fluctuate between the 1,665-1,675 range today.
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