Daily Market Report - 4 June 2026
- Wall Street closed sharply lower as the tension in the middle east escalated with the latest strikes on Kuwait International Airport by Iran.
- As a result, Brent crude edged higher at almost the USD98/barrel level while the US 10-year yield inched higher to 4.493%.
- Over in Hong Kong, the HSI retreated to below the 26,000 mark as profit taking activities intensified especially on tech related stocks.
- Traders have turned cautious as the tension between the US and Iran escalated with no clear resolution in sight.
- Back home, the FBM KLCI remained firmly in a consolidation mode as the index ended weaker, paring all gains during the early session.
- Therefore, with the index now at around the 1,670 level, we believe the local bourse is poised for a rebound anytime soon.
- As such, we anticipate the index to hover between the 1,670-1,685 range today.
