Daily Market Report - 17 August 2026
- Wall Street ended broadly lower as profit taking activities emerged following a decent run-up over the previous sessions.
- Traders are now in a dilemma as to whether rejoicing a weak July retail sales data or at the prospect that the Federal Reserve may look at a lowering interest rates as both illustrates a diminishing consumer confidence. Meanwhile, the US 10-year yield edged higher at 4.692%.
- As for Hong Kong equities, the HSI continued to slide as sentiment remained affected by the uncertainty in the middle east with the Brent
crude stayed elevated at almost the USD89/barrel.
Funds are rotating out from the tech and property sectors. Back home, the FBMKLCI dipped to below the 1,730 level amid a persistent profit taking activities amongst recent top performers. - We also noticed market undertone has turned cautious hence expect the index to veer within the 1,725-1,735 range today.
