Daily Market Report - 21 July 2026
- Wall Street closed negatively despite a strong opening as the tension between the US and Iran continues to weigh on sentiment. In addition, crude oil prices advanced with the Brent crude hitting almost USD90/barrel.
- As a result, the US 10-year yield edged higher at 4.594%.
- Over in Hong Kong, the HSI staged a massive rally to close above the 25,000 mark as investors rotated out of global semiconductor stocks into Chinese tech giants amid strong expectations of Beijing stimulus package and China Securities Regulatory Commission (CSRC) pledge to support the capital market.
- On the home front, the FBM KLCI ended lower, attributed to profit taking activities following a decent run over the last few days. We noticed the selling had been prominent amongst the banks. Nonetheless, we believe funds will return to snap up local shares as the rotational play is still ongoing. For today, we
