Daily Market Reports Issued By Rakuten Trade Research : Page 5

Despite Wall Street ending on a mixed note, both the Nasdaq and S&P 500 touched record highs spurred by optimism of M&A activities following the deal between AMD and OpenAI.
Meanwhile, the US government shutdown continues with the US 10-year yield trended higher at 4.158%.
Over in Hong Kong, the HSI closed lower at just below the 27,000 level as traders locked in profits ahead of the stockmarket’s closure for Mid-Autumn festival celebration today.
On the home front, the FBM KLCI edged higher amid the buying support from foreign funds following a net foreign inflow of RM812m over the last 3 trading days.
In addition, we also saw signs of improving retail participation over the last few days on improving trading volume.
Therefore, we expect the index to hover within the 1,635-1,645 range today.
Meanwhile, gold price surged to another record high at USD3,940/oz

Wall Street remains unconcerned of the ongoing government shutdown as all 3 major indices hit record highs before profit taking activities saw Nasdaq ended in the red.
Nonetheless, there are underlying concerns over the US economic and labour market health.
Meanwhile, the US 10-year yield inched higher at 4.121%.
Over in Hong Kong, the HSI retreated but remains above the 27,000 mark as investors decided to lock in profits after a decent run-up.
Back home, the FBM KLCI fell marginally as the market may be digesting the recent surge in buying interests.
Looking ahead, we believe trading on the local bourse to remain healthy on the back of improving daily volume.
The return of foreign funds may be the catalyst that we are craving for thus we anticipate the index will resume its uptrend and trend within the 1,635-1,650 range today.

Wall Street ended positively as traders opted to ignore the shutdown as all 3 major indices recorded new all time highs. While the US is faced with economic data blackout, the US 10-year yield dipped slightly to 4.085%.
Over in Hong Kong, the HSI closed above the 27,000 mark spearheaded by renewed optimism on the domestic AI narratives plus signs of stabilization within the property sector.
Back home, it was indeed another pleasant surprise to witness the FBM KLCI easing past the 1,630 level.
We believe this can be attributed to the inflows of foreign funds back to the local bourse.
It was also heartening to note that daily trading volume has surged above the 4bn shares threshold.
If this holds, we are in for an exciting ride over the next 3 months. F
or today, we anticipate the index to hover within the 1,635 – 1,650 range.

Wall Street closed higher as traders largely ignored the government shutdown and hoped that it would not last long.
Although September’s job data will be delayed amid the shutdown, many are looking at the figures from processing firm ADP that showed a drop in private payrolls, indicating that the Fed’s rate cut inevitable hence the decline in the US 10-year yield to 4.10%.
Hong Kong market was closed for National Holiday yesterday.
On the home front, the FBM KLCI surprisingly staged an impressive performance to end just above the 1,620 level.
We believe recent buying support illustrates that the index should have more legs to climb higher going forward.
Hopefully this will instigate the revival of retail participation in due course.
For today, we expect the index to hover between the 1,620-1,630 range.
As for gold price, it touched another record high at almost the USD3,900/oz mark.

Wall Street ended higher following a choppy session as traders largely ignored the possibility of a government shutdown today.
However, overriding concerns from the shutdown would be the absence of September’s job data coupled with a potential downgrade by the rating agencies.
Meanwhile, the US 10-year yield inched higher at 4.154%.
Over in Hong Kong, the HSI rebounded strongly to near the 27,000 level before taking a break tomorrow for National Holiday.
Overall sentiment was boosted by expectations of more easing measures from Beijing after a gloomy manufacturing activity data in China that saw declines for the 6th consecutive month.
Back home, the FBM KLCI managed to crawl back into positive territory despite a sudden sharp sell-down an hour before closing.
We suspect this could be the work by foreign funds.
Meanwhile, encouraging loans growth for August at 5.6% may see some interest back on the Banking segment hence expect the index to trend between the 1,605-1,615 range today.

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