Daily Market Update @ 08 Nov 2024

*Daily Market Update*
Indicative as of 8/11/2024
 
*Index Daily Return* (Local Currency Terms)
 S&P 500 : +0.74%
 NASDAQ : +1.51%
 STOXX : +0.62%
 FBM KLCI : -0.67%
 Shanghai : +3.02%
 HSI : +2.02%
 Nikkei : -0.25%
_Source: Bloomberg_
 
*FX Rate*
 USDMYR : 4.3880 , -0.37%
 GBPMYR : 5.6950 , +0.18%
 AUDMYR : 2.9257 , +0.20%
 SGDMYR : 3.3206 , +0.05%
 EURMYR : 4.7351 , +0.04%
 MYRHKD : 1.7713 , +0.36%
 MYRIDR : 3587.0600 , +0.37%
 MYRTHB : 7.7639 , +0.62%
 MYRCNY : 1.6216 , +0.00%
 MYRJPY : 34.9000 , -0.15%
 Gold Spot : 2706.9400 , +0.01%
_Source: Bloomberg_
 
*MGS Yields*
MGS 5 year : 3.66% , -2 bps
MGS 10 year : 3.92% , -2 bps
MGS 20 year : 4.14% , -1 bps
MGS 30 year : 4.23% , -0 bps
_Source: Bloomberg_
 
*Daily News*
*Fed Cuts Rates; Powell Says Wouldn’t Resign If Asked By Trump*
Officials lower benchmark lending rate by a quarter point
Powell says demoting of Fed leadership by president not legal 

*China Export Growth Jumps to 27-Month High as Tariff Risks Loom*
Export jump pushes trade surplus to third highest on record
Exports to US rose most in three months before Trump victory 

*China Tells Banks to Cut Interbank Deposit Rates to Boost Growth*
PBOC-backed body issues rule to take effect next month
Banks saw deposits eroded by policy loosening, rally in stocks 

*Wall Street Has Best Fed Day of 2024 Across Assets*
Stocks hit fresh peak after Powell’s bullish economic signals
Treasury yields slide as Fed Chair gives no skip indications

*China Sets Yuan Fix at Weakest Since 2023 Amid US Tariff Risk*
Yuan tumbled 1% on Wednesday as Trump victory bolstered dollar
Yuan may be devalued reaction to any tariffs 
_Source: Bloomberg_

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