Bullish market but caution is advised on potential risks with the looming threat of a US recession and geopolitical tensions while "Investors tread cautiously"
Wall Street closed on a mixed note with the DJIA ended in negative territory as both the Nasdaq and S&P 500
touched new record highs. Meanwhile, traders are looking forward to the inflation data later this week amid elevated expectations that the Federal Reserve will cut rates twice this year.
As a result, the DJIA ended lower by 31 points while the Nasdaq added 51 points with the US 10-year yield inching marginally higher at 4.279%. Over in Hong Kong, the HSI ended in negative territory despite a strong opening on concerns over the escalation of trade war between China and the EU. Back home, we expect buyers to emerge after a spate of late selling last Friday.
Nonetheless, we believe sentiment may remain cautious following a weak regional performance yesterday thus anticipate the FBM KLCI to trend within the 1,610-1,620 range today.
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