Wall Street closed strong, with the DJIA and S&P 500 reaching record highs amid expectations of a potential 50bps rate cut by the Fed.
Nasdaq gained
The DJIA rose 432 points and the Nasdaq gained 109 points, despite a slight increase in the US 10-year yield to 4.075%. In Hong Kong, the HSI declined nearly 290 points, nearing the 20,500 mark, following disappointing news from China’s economic planners.
Meanwhile, the FBM KLCI remained flat in a cautious trading session with low volume. Looking ahead, the local market is expected to improve slightly, with the index forecasted to hover between 1,635 and 1,645.
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