Daily Market Report - 29 January 2026
- It was another mixed session on Wall Street after the Federal Reserve left interest rates unchanged citing improving economic resilience while unemployment has stabilized somewhat.
- As such, all 3 major indices closed off the day’s high while the US 10-year yield inched marginally higher at 4.247%.
- Over in Hong Kong, the HSI closed broadly higher to almost the 28,000 level as liquidity continues to build up from the influx of foreign funds that are rotating out of US equities.
- Back home, the FBM KLCI ended lower amid some profit taking activities.
- We view this as a healthy correction following a strong run-up since the beginning of the year.
- Nonetheless, we hope that a rebound will not be procrastinated as this may erode the prevailing market vitality.
- Meanwhile, it is widely expected foreign funds that exited Indonesia recently due to a potential downgrade by MSCI, may look at Malaysia as a perfect alternative.
- Hence, we expect the index to trend between the 1,750-1,770 range today.
