Daily Market Reports Issued By Rakuten Trade Research : Page 4

Wall Street closed mixed as AI related stocks continue to prosper with the Nasdaq touching another record high.
However, outside the AI theme most stocks ended in the red. Meanwhile, the US 10-year yield edged higher at 4.108%.
Over in Hong Kong, the HSI rebounded to above the 26,000 level following recent trade negotiations that seems to soothe the overall investment climate and eased the tension between the two superpowers.
Back home, the FBM KLCI surprisingly surged beyond the 1,620 mark underpinned by solid accumulation of blue chips throughout yesterday’s session.
While we expect the local institutions to be the main buyers, we also suspect some foreign funds may also have been net buyers following a net foreign outflow of RM19bn year to date.
In view of this, we hope that the foreign funds will stay a tad longer thus anticipating the index to trend between the 1,620-1,630 range today.

Wall Street ended positively spearheaded by Amazon after its stellar results coupled with the ongoing AI-related theme and how the investments will be made going forward.
Meanwhile, the US 10-year yield climbed to 4.083% as the Federal Reserve hinted that further rate cut may not occur in December.
Over in Hong Kong, the HSI fell to below the 26,000 level over China’s weak manufacturing data amid a deflationary trend.
On the home front, the FBM KLCI closed negatively at below the 1,610 mark on persistent selling by foreign funds.
Though market undercurrent remains cautious, we are adamant that bargain hunting should emerge anytime soon hence expect the index to hover within the 1,605-1,615 range today.
Meanwhile, the MYR has strengthened to 4.19 against the greenback from 4.22 a week before.

Wall Street ended lower due to disappointment in corporate earnings.
The Dow slipped 0.23% to 47,522.12 while the S&P50 declined almost 1% to 6,822.34.
The Nasdaq dived 1.57% to 23,581.14.
Hong Kong market finished lower after a strong opening as investors cashed in profit during late trading hours.
This led HSI to fall 0.24% to 26,282.69.
Back home, the FBM KLCI closed marginally higher due to late buying on selected heavyweights.
With the US and China finally reaching a trade deal, market sentiment is improving, supported by hopes of a more accommodative stance from the Federal Reserve.
Hence, we anticipate an upward shift, driven by buying interest due to attractive valuations and stronger market turnover.
We anticipate the benchmark index to range between 1,610 and 1,620 today.

Wall Street ended mixed after the Federal Reserve's decision to cut interest rates for the second time this year.
The Dow slipped 0.16% to 47,632.00 while and S&P500 were flat at 6,809.60.
The Nasdaq added 0.55% to 23,958.47.
Hong Kong market was closed for a public holiday.
As for the local bourse, the FBM KLCI pared losses due to late buying on selected heavyweights.
Nonetheless, the benchmark index still ended in the red.
We are hopeful on the interest cut in the US will boost investor confidence.
Hence, we anticipate the benchmark index trending within the 1,610–1,620 range for today.

Wall Street extended its rally as strong buying in technology stocks pushed the Nasdaq to fresh record highs, while the Federal Reserve began its two-day policy meeting.
Other major indices also ended positively.
The Dow added 0.34% to 47,406.37, the S&P 500 gained 0.23% to 6,890.89 while the Nasdaq surged 0.8% to 23.827.49.
Over to Hong Kong, stocks finished lower as investors were staying cautious ahead of the meeting between President Xi and Trump.
As a result, the HSI dipped 0.33% to 26,346.14.
On the domestic front, the FBM KLCI took a breather after three consecutive days of gains, in line with profit-taking activity on regional bourses.
Despite this, we remain optimistic, buoyed by the improving market volume, which reflects that participation in the broader market is building up.
Hence, we foresee the benchmark index trending within the 1,610–1,620 range for today.

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