Wall Street continued its upward momentum with the Nasdaq and S&P 500 hitting record highs, supported by strong liquidity and optimism around proposed U.S. tax cuts, benefiting small-cap stocks. The US 10-year yield rose to 4.196%.
In Hong Kong, the Hang Seng Index advanced, bolstered by improved Chinese manufacturing activity, which hit a 5-month high, reflecting the impact of China’s stimulus measures. However, market sentiment remains cautious, with hopes for further policy easing to sustain confidence.
Index to consolidate
In Malaysia, the FBM KLCI briefly rose above 1,600 before retreating due to foreign fund outflows in the afternoon. Analysts expect the index to consolidate and trade within the 1,595-1,605 range, with limited immediate upside from potential window-dressing activities.
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