Daily Market Report
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Despite a mixed performance, both the Nasdaq and S&P500 closed on another record high.
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Traders remained cautious over the stalled negotiation between the US and Iran along with the elevated crude oil price.
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Meanwhile, the US 10-year yield inched higher at 4.34% ahead of the Federal Reserve meeting on Wednesday.
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Over in Hong Kong, the HSI declined marginally as sentiment remains affected by the high crude oil price coupled with the outstanding uncertainty between the US and Iran.
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However, selective tech stocks saw surging buying interests following strong AI demand signals.
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Back home, despite a strong opening, the FBM KLCI ended lower due to late selling activities. We reckon some investors may have decided to lock in profits particularly the banks.
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Index linked laggards remained as the main focus and we expect this to persist.
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As such, we anticipate the index to hover within the 1,715-1,730 range today.
