Daily Market Report ( 24 September 2024)
- Wall Street closed higher with both the DJIA and S&P500 charting record highs amid a choppy session.
- Nonetheless, sentiment may have turned cautious as traders would now look at Thursday‘s weekly jobless claims.
- In Hong Kong, the HSI surrendered early gains to end on a flat note as profit taking activities set in following a 2-week uptrend.
- This is despite the PBOC injecting USD33.3bn into the banking system via open market operations but traders remained unimpressed as this is not a major policy easing.
- On the home front, the FBMKLCI opened on a high but lost steam along way to close marginally lower possibly due to the lack of buying catalysts and that the local bourse may be undergoing an intermittent consolidation.
- Hence, we expect the index to hover within the 1,660-1,670 range today.
