Daily Market Reports Issued By Rakuten Trade Research : Page 37

Wall Street ended mixed as the DJIA touched a record high spearheaded by solid earnings from multinationals namely Coca-Cola and 3M.
Overall mood was also buoyed by the higher guidance from General Motors after its earnings topped estimates.
Meanwhile, the US 10-year yield dipped marginally to 3.963%.
Over in Hong Kong, the HSI closed above the 26,000 level but off the day’s high as caution subsequently crept in.
However, overall sentiment remains positive underpinned by expectations of easing tension between China and the US when both superpowers meet over the next few days.
On the home front, the FBM KLCI expectedly rebounded to above the 1,615 mark attributed to bargain hunting activities.
We believe local institutions remained as the main buyers amid an improving domestic economy.
As such, we anticipate the index to trend within the 1,615-1,625 range today.

Wall Street closed broadly higher as traders decided to concentrate on the good and look past the bad amid the ongoing shutdown and outstanding credit risks.
Meanwhile, the US 10-year yield remains flat at 3.982%.
Over in Hong Kong, the HSI rebounded strongly following a steep decline last Friday as sentiment was boosted by 3Q GDP growth that came in largely within consensus.
Meanwhile, there are high expectations of more easing measures during the Communist Party meeting over the next few days.
Back home, the FBM KLCI dipped to just below the 1,610 thresholds last Friday as foreign selling persisted ahead of the long weekend.
Nonetheless, we believe bargain hunting activities will emerge anytime soon hence expect the index to hover between the 1,605-1,620 range today.
In addition, sentiment may be buoyed by the higher than expected 3Q GDP growth of 5.2% thus pushing 2025 GDP growth estimate to around 4.6% from 4.0% previously.

Wall Street closed broadly lower on fresh worries over the health of regional banks and fears of burgeoning bad loans indicating a potential banking crisis.
As a result, many expect the Federal Reserve to certainly cut rates later this month hence the US 10-year yield dipped to 3.975%.
Over in Hong Kong, the HSI ended on a flat note amid a rather volatile session as traders are still weighing on the possibility of a re-escalation of trade tension between China and the US.
Back home, the FBM KLCI closed marginally higher despite the persistent selling by foreign funds.
Overall, the local bourse seems to be well supported at prevailing levels hence we anticipate the index to hover within the 1,610-1,620 range today ahead of another long weekend.

Wall Street ended mixed amid a volatile session as overall sentiment was buoyed by exceptional earnings from both Bank of America and Morgan Stanley hence boosting expectations of a better than expected earnings season ahead.
Meanwhile, the US 10-year yield remains flattish at 4.028%.
As for Hong Kong, the HSI rebounded after consecutive day declines, to recover at almost the 26,000 level underpinned by growing expectations that the Federal Reserve will cut interest rate by the end of this month.
On the home front, the FBM KLCI ended flat despite persistent selling from foreign funds.
Nonetheless, we remain positive of the local bourse’s undercurrent underscored by the improving daily volume indicating possibly higher retail participation.
For today, we expect the index to hover within the 1,610-1,620 range.

Wall Street ended on a mixed note amid a volatile session as sentiment was affected from the traded blows between China and the US. It all started from soybean and rare earth, has now extended to global shipping charges.
Meanwhile, the US 10-year yield eased slightly to 4.032%.
Over in Hong Kong, the HSI fell to below the 25,500 level as sentiment remains affected by the renewed trade tension between the US and China.
The benchmark index has fallen by almost 1,500 points over the last 4 trading days which may entice some bargain hunters anytime soon.
Back home, the FBM KLCI also closed lower amid the regional selloff despite a solid opening.
We suspect foreign funds remain as net sellers hence expect the index to trend within the 1,605-1,620 range today.

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