Daily Market Report - 3 February 2026
- Wall Street rebounded as bargain hunting activities emerged following previous week’s sharp selloff.
- The DJIA surged 1.05% to 49,407.66. S&P500 rose 0.54% to 6,976.64 while Nasdaq climbed 0.56$ to 23,592.11.
- In Hong Kong, the HSI continues to finish lower as growing concerns over stretched technology valuations and aggressive AI-related investment continued to weigh on sentiment.
- As for the local bourse, the FBM KLCI edged higher as buying on banking heavyweights resumed.
- Nevertheless, the benchmark index remains in a healthy uptrend, while intermittent profit-taking may continue after the strong rally.
- The strengthening of the ringgit (MYR) is expected to provide support to the local market.
- As such, we anticipate the FBM KLCI to continue oscillating within the 1,730–1,750 range today.
