Daily Market Report - 3 July 2026
- It was mixed session on Wall Street as traders are digesting the lower than expected job data which may point to a stagnant rate outlook from the Federal Reserve this year.
- While the DJIA notched a new record high, the Nasdaq declined as the rotation out of tech stocks continues.
- Meanwhile, the US 10-year yield was flat at 4.485%.
- Over in Hong Kong, the HSI recovered to just above the 23,000 mark amid a choppy session as rotational plays out of the tech segment and back into the traditional sectors took centre stage.
- Back home, the FBM KLCI ended higher at above the 1,660 level attributed to some bargain hunting activities.
- We noticed market undertone remained cautious as illustrated by the low daily volume of 2.7bn shares.
- As such, we anticipate the ongoing market consolidation to persist with the index to oscillate between the 1,650 1,670 range today.
