Hong Kong’s HSI breached the 20,000 mark on muted trading

The global markets experienced mixed performances ahead of the Christmas break. Wall Street saw a mini Santa Rally with all three major indices closing higher, though overall sentiment remains cautiously bullish due to the elevated US 10-year yield at 4.591%.

HSI up

In Hong Kong, the HSI breached the 20,000 mark on muted trading, driven by mainland investors anticipating further economic stimulus from China.

Locally, Malaysia’s FBM KLCI ended above 1,600 despite low trading volumes of 2 billion shares, indicating hints of bargain hunting. However, the market still requires increased liquidity to sustain momentum into 2025, with expectations for the index to hover between 1,600 and 1,610.

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