Daily Market Report (29 January 2024)
- Wall Street finished mixed as investors awaited the release of key inflation data to gauge when the US Fed may start cutting interest rate.
- The DJIA gained 60 points (0.16%), while Nasdaq lost 55 points (0.36%) led by selling on Intel.
- In Asia, major indices trended mixed with profit taking activities seen in Japan and Hong Kong following their recent gains.
- The HSI fell 260 points (1.6%) to finish below the 16,000 mark.
- As for the local bourse, the FBM KLCI continued to trend higher, added 2 points (0.15%) to finish at 1,506.28 with broad based buying.
- We remain cautiously optimistic on the local market driven by the improving sentiment although profit takings may arise.
- Thus, we anticipate the benchmark index to trend within the range of 1,500-1,510 for today.
