Daily Market Report - 7 July 2026
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Wall Street closed broadly higher with the DJIA notched another record closing. Sentiment was mostly focused on the recent weak job data coupled with Microsoft’s mass layoff. Meanwhile, the US 10-year yield was flat at 4.471%.
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As for Hong Kong, the HSI climbed to almost the 24,000 thresholds underpinned by broad based rebound including the badly trashed tech related stocks predominantly due to bargain hunting activities from mainland Chinese.
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On the home front, the FBM KLCI ended positively but off the day’s high as market undertone remains cautious. We reckon market participants may have an eye on the impending state election in Johor this weekend. Nonetheless, we are still adamant that the local bourse is ripe for some stock accumulation at prevailing levels. As such, we expect the index to trend within the 1,680-1,695 today.
