Daily Market Report (6 Nov 2024)
- Wall Street closed broadly higher as we await for the results from the US presidential election which will be tight.
- Meanwhile, the US 10-year yield dipped to 4.281% ahead of the Federal Reserve’s decision in a couple of days.
- In Hong Kong, the HSI maintained its ascension hitting past the 21,000 mark from latest data showing China’s service sector grew at its fastest pace since July.
- Meanwhile, sentiment was further boosted by Beijing’s move to ease foreign investments into local markets.
- Back home, the FBM KLCI managed to close just above the 1,620 level amid a choppy session as investors continue to mop up banks, plantation and telco stocks ahead of corporate earnings results later this month.
- Although, outlook on Wall Street remains jittery, we believe the local bourse to stay steady following recent sell-down hence expect the index to trend within the 1,615, 1,625 range today.
