Daily Market Report - 6 May 2026
- Wall Street closed broadly higher with both Nasdaq and the S&P500 reacting positively to upbeat earnings results to end at new record highs.
- Nonetheless, the situation over in the middle east remains fluid despite the Brent crude has fallen to USD110/barrel.
- Meanwhile, the US 10-year yield eased marginally to 4.426%.
- Over in Hong Kong, the HSI declined to below the 25,900 mark as traders are concerned over the escalating tension in the middle east.
- Risk appetite was also affected by the below average results from HSBC which was affected by high provisions.
- On the home front, the FBM KLCI maintained its ascension to close at almost the 1,750 level or around a 2-month high.
- Persistent late accumulation on index-linked laggards by foreign funds has been a feature of late rendering the local bourse quite well supported at current levels.
- Nonetheless, it is highly expected that an intermittent correction may emerge anytime soon hence we anticipate the index to hover within the 1,740-1,760 range today.
