Daily Market Report - 13 Dec 2024
Daily Market Report - 13 Dec 2024

Daily Market Report - 13 Dec 2024

  • Wall Street closed broadly lower as the producer price index (PPI) which tracks wholesale prices came in hotter than anticipated, heightening concerns if inflation could be curtailed.
  • Despite many expecting the Fed to cut rate next week, the US 10-year yield edged higher to 4.336%.
  • As for Hong Kong, the HSI rebounded as investors wait for more details from a key Chinese economic policy meeting coupled with improved expectations that the Fed will cut rate following a tame CPI figure for November.
  • Back home, the FBM KLCI closed marginally lower amid some bargain hunting activities particularly when the index dipped below the 1,600 level.
  • In view of the low market liquidity, we believe performance of the local bourse to remain lacklustre thus expect the index to trend between the 1,600-1,610 range today.
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