Wall Street Mixed; FBM KLCI Seen Stable Within Range

KUALA LUMPUR – Wall Street ended mixed overnight, with gains in consumer, energy, healthcare and entertainment stocks offset by continued selling in technology shares amid AI concerns. The Dow Jones Industrial Average rose 0.53% to 49,501.30, while the S&P 500 slipped 0.51% to 6,882.72. The Nasdaq fell sharply by 1.51% to 22,904.58.

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In Asia, Hong Kong equities recovered modestly, with the Hang Seng Index adding 0.05% to 15,857.32, supported by strength in mainland China solar stocks and easing VAT concerns. Locally, the FBM KLCI closed marginally lower on profit-taking but analysts view this as a healthy correction, allowing the market to absorb recent gains. Attractive valuations and sustained foreign fund inflows are expected to underpin the long-term uptrend, with the benchmark index projected to trade within the 1,735–1,755 range today. Rakuten

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