Daily Market Report - 5 May 2026
- Wall Street ended lower as fresh tension between Iran and the UAE illustrated the instability in the middle east, sending crude oil prices higher with the Brent crude hitting USD114/barrel.
- Meanwhile, the US 10-year yield edged higher at 4.432%.
- As for Hong Kong equities, the HSI jumped to close above the 26,000 mark despite conflicting news within the Strait of Hormuz as the Brent crude price stay elevated.
- On the flipside, the property sector received a boost after Morgan Stanley raised its property prices outlook.
- Back home, the FBM KLCI maintained its solid performance as it closed near the 1,740 level.
- Buying was broad based indicating investors are sanguine of corporate Malaysia’s earnings report this month.
- Thus, for today, we expect the index to trend between the 1,730-1.750 range.
