Daily Market Report - 8 September 2026
- Wall Street is closed for Labour Day on Monday but a peek at the DJIA futures is already down by 300 points amid the trade tension between Canada and the US.
- Crude oil price remains high with the Brent at USD97/barrel while the US 10-year yield stays flat at 4.784%.
- Over in Hong Kong, the HSI reacted negatively to the stronger than expected US job data as traders turned cautious ahead of the FOMC meeting this month.
- As a result, both the tech and financials related stocks saw some selling pressure.
- Back home, the FBMKLCI recovered to almost the 1,715 mark as investors returned to accumulate on blue chips that have been sold down recently.
- Overall sentiment is still cautious as illustrated by the lower daily volume of below 4bn shares. Amid the numerous headwinds, we believe ongoing consolidation to persist and expect the index to trend within the 1,710-1,720 range today.
