Daily Market Report - 20 June 2025
- Wall Street was closed for holiday yesterday as traders are pondering if the US will join forces with Israel over the next 2 weeks.
- At time of writing, all 3 major indices are sharply lower as the US 10-year yield eased to 4.391%.
- Over in Hong Kong, the HSI declined sharply on inflationary concerns induced by prevailing higher tariffs coupled with the was in the middle east disrupting global crude oil supply and could be inflationary as well.
- Back home, the FBM KLCI closed just above the 1,500 level as we believe foreign selling persists.
- Nonetheless, we would advocate our clients to accumulate on the blue chips if and when the index dips below the 1,500 mark at around the 1,480 thresholds.
- Meanwhile, the Brent crude price jumped to almost USD79/barrel as the tension between Israel and Iran escalates.