Daily Market Report (9 April 2024)
- Wall Street closed flat amid a choppy session as traders remain sidelined ahead of March CPI and job data to be out this Wednesday and Thursday.
- As a result, the DJI Average lost 11 points while the Nasdaq added 5 points as the US 10-year yield ended at a 5-month high of 4.422%.
- In Hong Kong, the HSI was flat as sentiment stayed cautious ahead of some key economic data to be released this week.
- Back home, the FBM KLCI maintained its uptrend to close at a YTD high of almost the 1,560 level.
- Nonetheless, we believe the index may be under some pressure today as the local bourse will be closed over the next 2 days for Hari Raya festivities thus expect the index to hover within the 1,555-1,565 range.
- Meanwhile, Gold ended at another record high underpinned by strong buying from both China and India.
