Daily Market Report - 5 Dec 2024
Daily Market Report - 5 Dec 2024

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.
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