Market Reports

Daily Market Report - 6 Feb 2025
Daily Market Report - 6 Feb 2025
  • Wall Street ended higher as traders are looking past the prevailing tariff uncertainty underscored by strong earnings from a selection of tech-based companies.
  • Meanwhile, the US 10-year yield eased further to 4.424%.
  • It is worthwhile noting that the US 10-year yield had declined from 4.8% a month ago to current level.
  • Over in Hong Kong, the HSI eased by almost 200 points as sentiment was weighed down by Trump’s tariff uncertainty amid the ongoing trade tension.
  • Meanwhile, Trump’s tactics help pushed gold prices to another record high to almost USD2,900/oz level.
  • Back home, the FBM KLCI maintained its climb to close above the 1,570 mark thus illustrating that foreign selling may be done for now.
  • We are still adamant that flight of funds from overseas will eventually land into Asia attributed to the reasonable valuations where the risk-reward ratio is better.
  • That said, we still need to see if prevailing stock accumulation is sustainable hence expect the index to hover within the 1,570-1,580 range today.
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Daily Market Report - 5 Feb 2025
Daily Market Report - 5 Feb 2025
  • Wall Street ended higher as traders remain positive that China may obtain a temporary reprieve as did both Canada and Mexico while ignoring China’s latest tariff imposition on US goods.
  • Meanwhile, the latest data showing weaker job openings in December also heightened expectations of a rate adjustment by the Fed.
  • As such, the US 10-year yield eased to 4.513%.
  • Meanwhile, Hong Kong equities maintained its resilience as the HSI added almost 600 points to race towards the 21,000 mark on optimism of a China-US tariff reprieve coupled with the progressive AI developments in China.
  • Back home, the FBM KLCI finally showed a promising performance as buying on blue chips returned.
  • Though the retail space remains tight from the lack of liquidity, we need to see better improvements in the daily volume before participation from retailers normalizes.
  • For today, we anticipate the index to hover within the 1,560-1,570 range.
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Daily Market Report - 4 Feb 2025
Daily Market Report - 4 Feb 2025
  • Wall Street closed off the day’s lows as Trump’s Tariffs Typhoon on both Mexico and Canada will take a 1-month pause after a fruitful discussion between the leaders.
  • Meanwhile, the US 10-year yield inched higher at 4.553%.
  • Over in Hong Kong, the HSI ended flat as buyers emerged after it dipped below the 20,000 level.
  • The benchmark index opened on a weak note following Trump’s drastic tariffs measures on its neighbours.
  • Nonetheless, sentiment improved on China’s advancement in the AI developments which saw major tech stocks rallied.
  • Back home, the FBM KLCI closed lower but off day’s low due to bargain hunting activities.
  • However, overall sentiment was cautious in line with the weak regional markets’ performances.
  • In view of the heightening volatility in equities as we noticed funds are shifting to safe asset classes, especially gold where prices have surged past the USD2,800/oz.
  • For today, we anticipate the index to hover within the 1,550-1,560 range as investors may prefer to stay sidelined while waiting for prevailing chaos to dissipate.
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Daily Market Report - 3 Feb 2025
Daily Market Report - 3 Feb 2025
  • Wall Street tumbled after Trump’s statement that tariffs on Canada, Mexico and China will commence 1st February.
  • Nonetheless, many are still waiting for more details on the tariffs while also looking ahead of earnings from major companies.
  • Meanwhile, the US 10-year yield inched higher at 4.543% as inflation remains a sticky issue.
  • The Hong Kong Stock Exchange will resume trading today.
  • On the home front, the FBM KLCI managed to close on a positive note following a weak performance over the last few days.
  • No signs of any post-CNY rally as yet but certainly the local bourse seems ripe for some stock accumulation at this juncture.
  • As mentioned, we believe some foreign funds would shift to better value propositions thus may re-look at Asia amid the heightening volatility on Wall Street.
  • Already, we noticed gold has reacted with all-time high at almost USD2,800/oz.
  • Therefore, we anticipate the index to trend within the 1,555-1,565 range today.
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