Daily Market Report - 5 Dec 2024
- Wall Street continues to scale record highs with tech stocks leading the charge.
- At the same time, traders are also waiting for the US latest employment data this Friday that may dictate the Fed stance on interest rates.
- Meanwhile, the US 10-year yield eased slightly to 4.184%. In Hong Kong, the HSI closed marginally lower after the strong performance recently.
- Nonetheless, sentiment remains upbeat as traders are expecting more easing measures from China.
- Meanwhile, the expansion of visa free countries boosted interest in travel agencies namely Trip.com.
- Domestically, the FBM KLCI maintained its uptrend, to end at almost the 1,615 level.
- In the absence of any aggressive selling from foreign funds, we expect the index to possibly hover within the 1,615-1,625 range today, with the hope that the 1,630 mark will be broken along the way to avert a prolonged consolidation phase.
