Daily Market Report - 5 June 2026
- Wall Street closed on a mixed note with the DJIA rallied to another new high as traders are rotating out of tech stocks to non-tech stocks.
- Overall sentiment remains cautious over the escalating tension in the middle east. Meanwhile, the US 10-year yield dipped lower to 4.475%.
- As for Hong Kong, the HSI maintained its sharp decline as traders became risk-averse from the heightening tension in the middle east coupled with the softening outlook in the AI-related tech segment.
- On the home front, the FBM KLCI finally snapped its week long downtrend, as it closed above the 1,680 mark attributed to broad based bargain hunting activities.
- We viewed the recent sell-down by foreign funds may be attributed to some Yen carry trades and yesterday’s rebound illustrates a possible tail-end for such activities.
- As such, we expect the index to trend between the 1,680-1,695 range today.
