U.S. 10Y touches 5%, AI stocks tumble and oil stays above US$105 markets brace for tomorrow’s Fed decision Global markets enter Tuesday with three pressure points converging: U.S. borrowing costs briefly crossed 5%, oil remains above US$100, and the AI trade suffered a sharp reset overnight . The S&P 500, Dow and Nasdaq all closed lower Monday, while the Philadelphia semiconductor index plunged 5.9% . For Malaysian investors, there was one encouraging counterpoint: the FBM KLCI rebounded 0.66% to 1,698.01 , snapping four consecutive losing sessions despite the difficult global backdrop. 30-second market snapshot Market / Asset Latest 🇺🇸 S&P 500 7,619.98, -0.48% 🇺🇸 Dow Jones 52,421.20, -0.29% 🇺🇸 Nasdaq 26,186.41, -0.56% 🇲🇾 FBM KLCI 1,698.01, +0.66% 💵 USD/MYR ~4.04–4.05 🇺🇸 U.S. 10Y Treasury briefly >5%; ~4.98% later 🥇 Spot gold ~US$4,313/oz, -0.8% 🛢️ Brent US$105.68/bbl, +~1% ₿ Bitcoin ~US$79,150, +~2% Monday The dollar strengthened Mo...
Hong Kong home prices rose for the 12th straight month in May, marking the longest growth streak since 2018. The recovery is driven mainly by strong demand from mainland Chinese buyers, though tighter capital controls could pose risks ahead. Hong Kong’s housing recovery is real, but heavily dependent on mainland demand. What’s Happening Prices continue rising +1.4% month-on-month in May +12% year-on-year Longest rally since 2018 12 consecutive months of gains First sustained recovery after years of decline Demand driven by mainland buyers Wealthy, educated migrants entering Hong Kong Attracted by low taxes and visa flexibility Transaction outlook improving Expected up to 80,000 deals in 2026 (highest since 2012) What’s the Risk China tightening scrutiny on cross-border funds Banks increasing checks on mainland buyers Potential impact on ability to fund property purchases Key Takeaway Hong Kong property is recovering but the key driver is external liquidity. Strong rebound su...