Wall Street Rises, KLCI Consolidates Amid Foreign Profit Taking

The US 10-year yield also edged up to 3.796%. In Hong Kong, the Hang Seng Index (HSI) continued its upward trend, reaching a 14-month high near 20,000.

Selling pressure from foreign investors may limit gains from local funds

The FBM KLCI rose by 0.2%, recovering in the final hour of trading despite concerns about a potential economic slowdown

Bursa rebounded on late buying yesterday

Opening at 1,674.06, the FBM KLCI fluctuated between a low of 1,665.19 and a high of 1,675.73 throughout the trading day but rebounded on late buying

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Markets decline but consolidation expected here

In terms of market outlook, further consolidation in the Malaysian market is expected due to tempered optimism around US rate cuts and a lack of new domestic leads

FBM KLCI Sustained Uptrend Amid Glove Stock Surge and Foreign Buying

Glove-related stocks experienced heightened interest due to the potential imposition of higher US tariffs on Chinese glovemakers, further fueling market activity.

Market Outlook: Investor Confidence Grows

Energy stocks could benefit from a recovery in crude oil prices, while gloves-related stocks may see profit-taking after yesterday’s strong performance amid investor confidence

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Selling pressure on the local market is expected to ease, with potential bargain hunting emerging

A rate cut is anticipated, which may favor bullion investments while selling pressure builds for local market

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Hopes are high for a better trading day

Though this is temporary, analysts believe sentiment remains in cautious mode as depicted by the low volume traded of 2bn shares last Friday. Hope today is a better trading day