Liquidity on the local bourse remains low

In Malaysia, the FBMKLCI rebounded to close near the 1,610 level amid renewed buying activities.

Liquidity

While liquidity on the local bourse remains low, there is optimism that the index could test the 1,630 level before year-end. For today, the index is expected to trade within the 1,605-1,615 range.

Meanwhile, Wall Street ended mixed as traders remained cautious ahead of next week’s FOMC meeting.

Rate cut

Despite expectations of a rate cut, the US 10-year yield stayed high at 4.395%, keeping pressure on the US national debt, now at $36.2 trillion, as the debt ceiling suspension ends on January 1, 2025.

In Hong Kong, the Hang Seng Index (HSI) fell below the 20,000 mark, as China’s economic policy meeting failed to meet investor expectations. However, China’s bond market saw a rally, with the 10-year yield hitting a record low of 1.773%.

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Source: Rakuten Trade