Daily Market Report - 24 April 2026
- Wall Street closed weaker as crude oil price jumped with Brent crude hitting USD105/barrel amid a naval stalemate between the US and Iran in the Strait of Hormuz.
- Sentiment was further shaken by disappointments from software companies following their respective earnings reporting.
- Meanwhile, the US 10-year yield trended higher at 4.323%.
- Over in Hong Kong, the HSI dropped to below the 26,000 level as sentiment remained spooked by the ceasefire uncertainty between the US and Iran.
- It was also reported that fund flows into the Hong Kong market have slowed as investors are shifting their interest into China particularly within the tech sector.
- On the flipside, the FBM KLCI maintained its solid performance as funds continue to flow in, snapping up the big cap laggards.
- However, we noticed market undertone is still on cautious mode hence expect the index to hover between the 1,710-1,730 range today.
