Some foreign buying may be returning

Wall Street ended mixed as investors grew cautious over the potential impact of Trump’s upcoming tariffs. The US 10-year yield held steady at 4.248%. In Hong Kong, the Hang Seng Index (HSI) continued its uptrend, surpassing the 25,000 mark, driven by better-than-expected July exports and import data from China. Locally, the FBM KLCI rebounded after a sluggish start, boosted by bargain hunting, particularly in Tenaga shares, pushing the index closer to 1,550. Some foreign buying may be returning, with hopes they remain longer. For today, the FBM KLCI is expected to move within the 1,545–1,555 range.

Foreign buying

The FBM KLCI closed higher, rising 0.49% or 7.63 points to 1,549.11, supported by broad-based buying in utility stocks. Gains were led by the utilities (+0.61%), technology (+0.19%), and transportation (+0.17%) sectors, while losses were seen in energy (-0.40%), financial services (-0.27%), and REITs (-0.27%). Market breadth was negative, with 517 losers outpacing 424 gainers. Trading volume reached 2.21 billion shares worth RM2.36 billion.

Regionally, markets trended positively: HSI (+0.69%), SHCOMP (+0.16%), Nikkei 225 (+0.65%), and STI (+0.72%). On Wall Street, sentiment was mixed: DJIA fell 0.51%, S&P500 edged down 0.08%, while Nasdaq rose 0.35%. Source: Rakuten Trade

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