Daily Market Report - 5 February 2026
- Wall Street finished mixed, supported by buying in consumer, energy, healthcare and entertainment stocks, while technology shares declined amid AI concerns.
- The Dow Jones Industrial Average rose 0.53% to 49,501.30, while the S&P 500 dipped 0.51% to 6,882.72.
- Seling on tech stocks caused the Nasdaq to decline 1.51% to 22,904.58.
- Hong Kong equities recovered from earlier declines in technology stocks, as strength in mainland China solar names and reduced VAT concerns lifted sentiment.
- The HSI gained 0.05% to end at 15,857.32. On the local front, the FBM KLCI finished marginally lower due to profit taking activities.
- Nonetheless, we interpret this as a positive correction, enabling the market to absorb the recent rally.
- We expect the long-term uptrend to continue given the attractive valuations and persistent support from foreign funds.
- As such, we anticipate the benchmark index to trend within the range of 1,735-1,755 for today.
