Daily Market Report (20 Nov 2024)
- Wall Street closed mixed as overall sentiment was affected by the latest developments between Russian and Ukraine.
- However, Nasdaq bucked the trend predominantly boosted by Nvidia ahead of its earnings results due later today.
- Meanwhile, the US 10-year yield eased slightly to 4.396%.
- In Hong Kong, the HSI trended higher albeit modestly as the outlook was boosted by China’s pledge to ramp up more support for the city’s financial market via more listings of Chinese companies, improve market access and issue of treasury bonds.
- On the home front, the FBM KLCI closed in the red paring earlier gains attributed to late selling by foreign funds.
- Nonetheless, we remain optimistic that bargain hunting activities will emerge thus expect the index to trend between the 1,600-1,610 range today.
