Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
.png)
US stocks were mixed as investors brace for inflation data that could solidify bets for another Federal Reserve interest-rate hike.
The tech-heavy Nasdaq 100 fell for the fifth time in six sessions as traders considered another rate hike in May. The S&P 500 fluctuated between gains and losses, while the yield on policy-sensitive two-year Treasuries remained stable at roughly 4%.
Cracks are forming in 2023's equity advance, as hedge funds and other speculators amass the largest short position since November 2011, when the US sovereign credit rating was downgraded. Inflation data will be released on Wednesday, and banks will begin what is expected to be the worst earnings season since the pandemic's depths on Friday.
Despite recent financial difficulties, the Federal Reserve appears to be on pace to keep hiking rates, with solid job markets and rising oil prices swaying officials focused on their price-stability mandate.
Although US payrolls rose at a solid pace last month and the unemployment rate fell, markets are pricing in a significant possibility that the Fed will boost borrowing by a quarter-point on May 3 to manage inflation. Wednesday's consumer price report, which is projected to show a 0.4% monthly increase in the core consumer price index, could solidify the Fed's rate path.
A scenario in which the Fed stops raising interest rates in May, which markets briefly contemplated last month as bank instability heightened recession fears, appears increasingly implausible.
Furthermore, the International Monetary Fund cut its global growth predictions, citing recent banking sector turbulence as well as Russia's invasion of Ukraine. Bitcoin gained for the fourth day in a row, breaking through the $30,000 barrier for the first time in ten months.
Oil prices fluctuated, with West Texas Intermediate trading at $80 per barrel after falling below. Gold was somewhat higher, hovering about $2,000 per ounce.
Comments
Post a Comment