Dow Jones Industrial Average
Indices.
US Market
U.S. stocks rallied on Thursday, as Treasury yields pulled back from earlier highs following comments from Atlanta Federal Reserve President Raphael Bostic about his favored path of interest rate hikes for the central bank.
In an argument for quarter-point hikes, Bostic said he favored "slow and steady" as the appropriate course of action for the Fed, as the impact of higher interest rates may only start to be felt in the spring.
The Dow Jones Industrial Average rose 341.73 points, or 1.05%, to 33,003.57, the S&P 500 gained 29.96 points, or 0.76%, to 3,981.35 and the Nasdaq Composite added 83.50 points, or 0.73%, to 11,462.98.
Significant Economic Events
The ringgit settled little changed against the US dollar on Thursday due to a lack of interest in the local unit. At home, the ringgit was traded higher against a basket of major currencies.
International cloud service provider Amazon Web Services (AWS)’s announcement to invest approximately RM25.5 billion (US$6 billion) over 15 years for its new infrastructure region in Malaysia, affirms the nation’s growing importance as a digital hub of choice in Asean.
The luxury tax is expected to be rolled out by the second half of this year (2H2023), said Deputy Finance Minister Steven Sim. When asked on the capital gains tax on non-listed share disposals, Sim clarified that it is going to be at a low tax rate for a start.
US Market
U.S. stocks rallied on Thursday, as Treasury yields pulled back from earlier highs following comments from Atlanta Federal Reserve President Raphael Bostic about his favored path of interest rate hikes for the central bank.
In an argument for quarter-point hikes, Bostic said he favored "slow and steady" as the appropriate course of action for the Fed, as the impact of higher interest rates may only start to be felt in the spring.
The Dow Jones Industrial Average rose 341.73 points, or 1.05%, to 33,003.57, the S&P 500 gained 29.96 points, or 0.76%, to 3,981.35 and the Nasdaq Composite added 83.50 points, or 0.73%, to 11,462.98.
Significant Economic Events
The ringgit settled little changed against the US dollar on Thursday due to a lack of interest in the local unit. At home, the ringgit was traded higher against a basket of major currencies.
International cloud service provider Amazon Web Services (AWS)’s announcement to invest approximately RM25.5 billion (US$6 billion) over 15 years for its new infrastructure region in Malaysia, affirms the nation’s growing importance as a digital hub of choice in Asean.
The luxury tax is expected to be rolled out by the second half of this year (2H2023), said Deputy Finance Minister Steven Sim. When asked on the capital gains tax on non-listed share disposals, Sim clarified that it is going to be at a low tax rate for a start.
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