Daily Market Report - 30 Dec 2024
- Wall Street closed broadly lower fueled by tech stocks as uncertainties loom over Trump’s economic policy and tariffs.
- Meanwhile, the US 10-year yield continues to stay elevated at 4.631%.
- Over in Hong Kong, the HSI ended marginally lower having trended within a narrow range as investors are expecting for more stimulus measures following a poor run of Chinese industrial companies’ profits over the last few months.
- Back home, the FBM KLCI managed to close higher to almost the 1,630 mark underpinned by stock accumulation across the board.
- We believe the index may end 2024 on a higher note with the 1,650 level as the immediate resistance.
- As such, we anticipate the benchmark index to hover within the 1,630- 1,640 range today.
