GE15 Uncertainties Dominate Market Sentiment

Wall Street closed lower as investors await an update on September U.S. jobs report. The DJIA fell by 1.15% to end at 29,926.94.

GE15 Uncertainties Dominate Market Sentiment
Photo by Maxim Hopman / Unsplash

Back home, the FBM KLCI closed marginally lower amid a choppy second half session. Sentiment was cautious as uncertainties remained high on GE15 hence we reckon the index to trend within the 1,410-1,420 range today.

As the crude palm oil continue to chart higher at above the RM3,600 level due to anticipated stronger demand, we reckon some buying interests to emerge on Plantation stocks today. Meanwhile, Oil & Gas stocks may also benefit from recent strong crude oil prices that saw the Brent crude hovering above the US$94/barrel.

FBM KLCI closed in negative territory as profit takings emerge during the final minutes of trading session. The benchmark index lost 0.01% or 0.12 points to end at 1,420.43 with losers led by NESTLE, HLBANK and PMETAL. Market breadth was slightly positive with 435 gainers against 328 losers while 427 were unchanged. Total volume stood at 2.25bn shares valued at RM1.59bn.

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Wall Street, Job Data Sentiment

Wall Street ended lower as traders are weighing on job data which is expected to be out later today. The DJI Average declined by 347 points while the Nasdaq lost 75 points as the US 10-year yield inched higher to almost the 3.83% mark.

Wall Street closed lower as investors await an update on September U.S. jobs report. The DJIA fell by 1.15% to end at 29,926.94. S&P500 and Nasdaq lost 1.02% and 0.68% to finish down at 3,744.52 and 11,073.31 respectively.

Key regional markets closed mixed. Nikkei 225 close 0.70% higher to end at 27,311.30. STI and HSI declined 0.05% and 0.42% to close at 3,151.56 and 18,012.15 respectively. SHCOMP remained closed for holidays.