Daily Market Report - 2 July 2026
- Wall Street closed lower as traders decided to unload tech stocks following yesterday’s uptrend within the tech segment.
- Meanwhile, sentiment was also impacted by Fed chair Kevin Warsh’s statement that the inflation was too high thus saw the US 10-year yield higher at 4.481%.
- The Hong Kong market was closed and will resume trading today.
- To recap, the HSI is currently languishing below the 23,000 mark or a YTD low.
- On the home front, the FBM KLCI ended lower amid an aggressive sell-down late in the session pushing the index down to around the 1,655 level or a YTD low.
- Whether a Yen carry trade effect is unwinding remains to be seen as consensus has heightened expectations of more rate hikes by the BOJ following the Yen fresh low against the USD.
- As such, we expect the index to hover within the 1,650-1,665 range today.
