Strong US Stock Performance IMPACT on Local Market

Wall Street closed broadly higher, with both the DJIA and S&P 500 hitting record highs, despite a rise in the US 10-year yield to 4.096%. In Hong Kong, the HSI fell but stayed above 21,000 as traders were disappointed by the lack of detail in China’s fiscal measures to support the property market and economy.

Strong US Stock

In Malaysia, the FBM KLCI closed slightly positive in a cautious trading environment, with daily volume remaining low at just over 2 billion shares, as retail investors stayed on the sidelines. The index is expected to hover between 1,635 and 1,645 following the strong US stock performance.

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