Daily Market Report - 26 September
- Wall Street ended negatively for the third session in a row as an unexpected drop in jobless claims and a sharp upgrade in GDP growth, developments that complicate the outlook for rate cuts amid uncertainty about Federal Reserve policy.
- The Dow slipped 0.38% to 45,947.32, while the S&P 500 and Nasdaq fell 0.5% respectively.
- Over to Hong Kong, stocks finished lower as profit taking activities continued.
- As a result, the HSI dipped 0.13% to 26,484.68.
- On the local front, the FBM KLCI closed lower as buying interest shifted toward second-liner and broader market stocks.
- Despite this, we remain optimistic, buoyed by the improving market volume, which reflects that participation in the broader market is building up.
- As such, we foresee the benchmark index trending within the 1,595–1,610 range for today.
