Daily Market Report - 5 August 2026
- Wall Street closed broadly higher with both DJIA and the S&P500 hitting record highs underpinned by solid corporate earnings and the possibility of a deal between the US and Iran to reopen the Strait of Hormuz.
- As a result, crude oil prices fell with the Brent crude declining to below the USD80/barrel.
- Meanwhile, the US 10-year yield also fell to 4.615%. Over in Hong Kong, the HSI declined as rotation out of defensive segment namely banks and into AI related stocks have begun.
- Back home, the FBMKLCI maintained its impressive run to end above the 1,730 thresholds following a soft opening. Buying has been broad based as we noticed foreign funds may be returning to the local bourse. For today, we expect the index to trend between the 1,730-1,740 range.
