Global markets remained supported by easing inflation pressures, with US equities reaching fresh records after a cooler-than-expected Producer Price Index (PPI) reinforced expectations that the Federal Reserve may keep interest rates unchanged at its September FOMC meeting. The US 10-year Treasury yield was flat at 4.649%.
Investors cautious
In Hong Kong, the Hang Seng Index continued its decline as investors turned risk averse amid heightened Middle East uncertainty and persistently elevated crude oil prices.
Back home, the FBMKLCI slipped as investors took profits following the previous session’s strong gains. Selling was broad-based but largely concentrated in counters that had rallied the day before.
With geopolitical risks and oil prices continuing to cloud sentiment, investors are expected to remain cautious. The FBMKLCI is likely to consolidate within the 1,730–1,740 range today as market participants await clearer catalysts.
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