Photo by Jenny Gregg on Pexels.com
Wall Street ended lower amid a volatile session after the Federal Reserve cut interest rate by 50bps.
Sentiment was mixed on the massive rate cut as this may signal a slowing economy and employment market. As a result, the DJIA lost 103 points while the Nasdaq declined by 55 points as the 10-year yield inched higher at 3.713%. Hong Kong market was closed for mid-Autumm Festival.
“We were surprised by the weak performance of the FBM KLCI as sentiment remained cautious ahead of the Fed rate announcement.
“Nonetheless, we believe buyers to return following the Fed’s big rate cut which is positive for regional currencies. Therefore, we expect the index to hover within the 1,660-1,670 range today,” says Rakuten.
Meanwhile, the Ringgit has strengthened to 4.24 vs the greenback.
Bursa Malaysia appoints CFO Azizan Abdul Aziz as Islamic capital market director, reinforcing focus on…
Huawei unveils FusionSolar9.0 in Malaysia, introducing AI‑powered, grid‑stabilising solar technology to boost clean energy transition…
Private markets remain resilient but face mounting pressure from higher rates, weak exits, concentrated AI…
Fomca urges government transparency on Budget 2026 cuts, warning healthcare reductions could harm patients, staff,…
PETRONAS and ENEOS renew LNG partnership, securing 10% stake in MLNG Tiga to strengthen energy…
UAE exits OPEC+, weakening spare capacity control and signaling shift toward capacity-driven competition, raising volatility…
This website uses cookies.