Wall Street had a mixed closing with the DJIA up by 228 points, while the Nasdaq fell by 92 points, largely due to concerns over Apple’s iPhone 16 sales. The US 10-year yield decreased to 3.618%.
In Hong Kong, the HSI rebounded from earlier losses on hopes for additional Chinese stimulus and the upcoming Federal Reserve rate cut. In Malaysia, the stock market was closed for Malaysia Day, but the FBM KLCI had risen last Friday due to foreign fund accumulation.
Fed Rate Cut
Despite low trading volumes, the index is expected to stay within the 1,650-1,660 range today, with more foreign investments anticipated due to the Fed’s rate cut.
Recap
The FBM KLCI is expected to range between 1,650-1,660 today, buoyed by anticipated foreign fund inflows and a Fed rate cut.
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