Market Wrap local and foreign markets
KUALA LUMPUR, Sept 11 — Wall Street ended mixed overnight as all three major indices retreated from intraday highs, with traders adopting a cautious stance ahead of the release of August consumer price index (CPI) data later today. The US producer price index (PPI) registered a slight decline in August, while the 10-year Treasury yield eased marginally to 4.045%.
In Hong Kong, the Hang Seng Index (HSI) closed above the 26,000 mark, buoyed by optimism that the US Federal Reserve could move toward an interest rate cut. Market sentiment was further lifted by hopes that Beijing may ease monetary policy following weaker-than-expected inflation data.
On the domestic front, the FBM KLCI climbed to a two-week high, closing above the 1,590 level. Market participants noted signs of foreign fund inflows into local equities, a development viewed positively for near-term momentum. Analysts expect the benchmark index to trade within the 1,590–1,600 range today.
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