Market Sentiment Rebounds on OPR Cut and Global Tech Rally
Wall Street closed higher, led by Amazon’s stellar quarterly results and continued optimism surrounding AI-related investments, according to Rakuten Trade. The US 10-year Treasury yield climbed to 4.083% after the Federal Reserve signaled that no further rate cuts are likely in December.
In contrast, Hong Kong’s Hang Seng Index slipped below 26,000 amid weak Chinese manufacturing data and deflationary pressures.
On the local front, the FBM KLCI ended below 1,610 due to persistent foreign selling. Rakuten Trade said bargain hunting may emerge soon, expecting the index to hover between 1,605 and 1,615. The ringgit strengthened to 4.19 per US dollar. — Rakuten Trade
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