On the home front, the FBM KLCI weakened further to end at around
the 1,590 level due to persistent foreign selling. We expect a swift recovery today taking cue from the brighter prospects on Wall Street last Friday, thus expect the index
to hover within the 1,595-1,605 range.
Crude Palm Oil
All said, the crude palm oil price continues to slide over the past few sessions from around RM5,200/tonne to currently RM4,500/tonne on concerns of demand from China and lower exports.
Wall Street staged a relief rebound as sentiment was uplifted by a tame Personal consumption price index.
More importantly, the US averted a government shutdown following the Senate’s approval of a federal
spending bill as a stopgap measure for 3 months.
US yield
Meanwhile, the US 10-year yield eased marginally to 4.53%. In Hong Kong, the HSI ended slightly lower as investors await for more catalysts after China’s 3Q GDP growth came in at 4.6% amid headwinds from the property sector and domestic consumption.
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