Daily Market Report - 22 May 2026
- Wall Street ended higher as hopes grew for a resolution of the middle east conflict.
- As a result, crude oil prices declined with the Brent crude dipping to USD102/barrel while the US 10-year yield remains flat at 4.57%.
- In Hong Kong, the HSI fell to below the 25,400 mark erasing all gains during the morning session as sentiment became edgy following the spike in US 10-year yield to above the 4.6% again hence the sell-down on tech stocks.
- On the home front, the FBM KLCI declined to below the 1,710 level as foreign selling persisted.
- Judging by the ongoing correction, we believe the index may dip below the 1,700 thresholds before rebounding.
- Therefore we expect the index to hover within the 1,700-1,715 range today.
