Daily Market Reports Issued By Rakuten Trade Research : Page 16

Wall Street closed lower as profit taking activities emerged ahead of the Federal Reserve’s rate decision later today coupled with a mixed bag of corporate results.
Meanwhile, the US 10-year yield eased to 4.324%.
Over in Hong Kong, the HSI ended marginally lower but off the day’s low as sentiment turned cautious ahead of the Federal Reserve’s rate policy coupled with forthcoming earnings report.
At the home front, the FBM KLCI declined to almost the 1,520 level despite a strong opening as we believe foreign funds took the opportunity to lock in profits after a decent run-up recently.
Nonetheless, we reckon the sell-down was quite excessive and expect an immediate rebound otherwise we may be stuck within another consolidation phase.
For today, we expect the index to trend between the 1,520- 1,530 range.

Wall Street ended mixed as the trade agreement between the US and the European Union (EU) failed to spark any rally.
Instead, traders are focusing on earnings and the FOMC meeting over the next few days.
Meanwhile, the US 10-year yield was flat at 4.414%.
In Hong Kong, the HSI rebounded as sentiment was buoyed by the trade agreement between the US and the EU coupled with the tariff pause extension between the US and China.
Back home, the FBM KLCI failed to sustain the aggressive opening as the index closed below the 1,530 level.
Despite this, we believe the benchmark index may see some bargain hunting in view that both Thailand and Cambodia agreed to an unconditional ceasefire with immediate effect, much kudos to PM Anwar’s efforts.
As such, we expect the index to hover between the 1,530- 1,545 range today

28 Jul 2025

Wall Street closed broadly firmer underscored by solid earnings results and positive trade developments as Trump indicated that more deals may be done before the Aug. 1 deadline.
Meanwhile, the US 10-year yield eased slightly to 4.386% ahead of the FOMC meeting next week.
Over in Hong Kong, the HSI retreated amid some profit taking activities after a solid 5-day uptrend.
Back home, the FBM KLCI fell to below the 1,535 level as recent buying support may have dried up temporarily.
We believe the market may be taking a breather and is set to resume its climb in due course.
As such, we expect the index to hover within the 1,530-1,540 range today.

Wall Street closed mixed as the DJIA ended lower due to the sell-off on IBM.
Otherwise, the US market seems to be in a good situation.
Meanwhile, the US 10-year yield was flat at 4.40% amid a rather resilient PMI and job data.
Over in Hong Kong, the HSI continues with its winning streak to stay within the 25,700 mark as sentiment remains buoyant with the US looking more forthcoming for negotiations amid the ongoing trade tension and many are hoping a deal may be agreed between the US and the EU soon.
On the home front, the FBM KLCI displayed another decent performance as it ended at the 1,540 level possibly from institutional support in view of the upcoming results season.
Meanwhile, we expect the index to maintain its positive course and trend between the 1,535-1,550 range today.

Wall Street closed broadly higher as confidence reigned on the positive developments over the trade front this week.
Meanwhile, the US 10-year yield eased to 4.384%.
In Hong Kong, the HSI surged to a three and a half year high on optimism that the US-China fresh trade talk is progressing well following the just concluded US-Japan agreement on a positive note.
Now that our initial 25,000 for HSI has been attained, our next stop is the 28,000 mark.
Back home, the FBM KLCI closed positively at almost the 1,530 level.
The decent performance may be underpinned by PM Anwar’s pleasant announcements for all Malaysians yesterday.
This is certainly a surprising “feel good” factor in what we see may be to ease the SST burden going forward.
Whether such positivity will sustain remains to be seen as we expect the index to trend within the 1,530-1,540 range today.

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