Daily Market Report (7 June 2024)
- Wall Street pared gains and ended mixed as investors are cautious ahead of the US payrolls data.
- As a result, the Dow finished 0.20% higher, ending above the 38,886.17 mark, while the tech-heavy Nasdaq saw heavy profit takings, losing 0.09%.
- Stocks in Hong Kong finished higher, buoyed by positive economic recovery indicators from China.
- The HSI climbed 0.3%, closing at 18,476.8.
- As for the local bourse, the FBM KLCI ended on a positive note, driven by robust buying in the utilities sector.
- Given the improving market sentiment and support from foreign buyers, nonetheless investors shall be wary of the increasing global volatility.
- We forecast the FBM KLCI to move within the 1,615-1,630 range today.
