Daily Market Report - 4 February 2026
- Wall Street ended lower, weighed down by heavy selling in technology stocks amid lingering concerns over the profitability of the AI boom and whether elevated capital spending can be justified.
- The Dow Jones Industrial Average fell 0.34% to 49,240.99, while the S&P 500 declined 0.84% to 6,971.81.
- The tech-heavy Nasdaq slid 1.43% to 23,255.19.
- Hong Kong equities ended mostly higher as financial stocks outperformed, boosting market sentiment.
- However, tech giants came under pressure on speculation that Chinese regulators could revise value-added tax arrangements for the internet sector.
- Domestically, the FBM KLCI finished higher as blue chips continue to see healthy accumulation amid steady buying interest and rising confidence.
- We reckon any near-term consolidation following the recent advance is expected to be temporary, with overall sentiment staying positive, hence anticipate the FBM KLCI to trend with the range of 1,740-1,760 for today.
