Market Reports

Daily Market Report - 7 March 2025
Daily Market Report - 7 March 2025
  • Wall Street slumped again despite the recent 1-month tariff reprieve for both Canada and Mexico as traders are now paying attention on the monthly layoff data for February 2025 which is the highest since July 2020.
  • There are rising concerns that the ongoing mass layoffs on Government staff will have negative impacts on the US economy.
  • Meanwhile, the US 10-year yield remained flat at 4.28%.
  • Over in Hong Kong, the HSI maintained its uptrend to close at a 3-year high to almost the 24,400 mark buoyed by China’s stimulus package during the National People’s Congress (NPC) underscore by the projected 5% GDP growth this year.
  • Therefore, many are expecting more easing measures to be announced by China in due course.
  • Back home, the FBM KLCI declined as sellers emerged, which we see as disappointing.
  • As a result, we believe the local bourse would continue to trend within a narrow range and hover between the 1,555-1,570 range today.
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Daily Market Report - 6 March 2025
Daily Market Report - 6 March 2025
  • Wall Street staged a recovery rally after Trump allowed a 1-month tariff reprieve for automakers which many hopes will extend to other industries.
  • Nonetheless, uncertainties remain coupled with potential inflationary pressure that saw the US 10-year yield higher at 4.28%.
  • In Hong Kong, the HSI rebounded to almost the 23,600 mark led by CK Hutchinson following its proposed disposal of assets worth USD23bn near the Panama Canal.
  • Meanwhile, China’s Premier Li Qiang during the opening of the National People’s Congress alluded to another 5% growth for China’s GDP this year plus more fiscal spending.
  • On the home front, the FBM KLCI closed broadly higher as bargain hunters returned mopping up shares that were trashed a day before.
  • The announcement of “a first of its kind” collaboration with Arm Holdings plc to fast-track Malaysia’s Tech sector up the value chain may be a catalyst for the sector as this will benefit existing players significantly.
  • Judging from the positive regional performance, we believe the flight of foreign funds may have started thus expecting the index to hover within the 1,565-1,575 range today.
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Daily Market Report - 5 March 2025
Daily Market Report - 5 March 2025
  • Wall Street maintained its slump on concerns that prevailing trade war may transform into an all-out trade war as Trump has threatened more tariffs on Canada.
  • Meanwhile, the US 10-year yield crept up to 4.242% as Trump’s tariffs may be inflationary.
  • Over in Hong Kong, the HSI declined amid growing fears that Trump’s tariffs are taking effects today.
  • As the countries affected are imposing retaliatory tariffs, many are concerned that this will escalate the prevailing global trade war to greater heights.
  • Back home, the FBM KLCI fared even worse as investors now at risk-off mode, unloaded their holdings in view of increasing volatility.
  • Though we are not advocating any aggressive bargain hunting as yet, we see the current scenario as an excellent opportunity for some stock pickings, especially the blue chips and defensive ones with decent dividend yields.
  • For today, we expect the index to hover within the 1,550-1,565 range with the hope that foreign funds will look at Asia as the preferred destination soon.
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Daily Market Report - 4 March 2025
Daily Market Report - 4 March 2025
  • Wall Street slumped as Trump is going ahead with his tariffs imposed on Mexico, Canada and China commencing today.
  • Meanwhile, the latest data from manufacturing and construction sectors is showing a weakening US economy hence the decline in US 10-year yield to 4.159%.
  • In Hong Kong, the HSI improved but off the day’s high as investors remained cautious on heightening market volatility.
  • Nonetheless, China’s improving PMI (purchasing managers’ index) of the manufacturing industry for February boosted sentiment somewhat.
  • On the home front, the FBM KLCI ended slightly lower as selling by foreign funds remains quite evident following a bright opening.
  • The index ended just above the 1,570 level from the lack of fresh catalysts.
  • In view of the lacklustre performance by the local bourse of the late, we expect the index to hover within the 1,565-1,575 range today.
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Daily Market Report - 3 March 2025
Daily Market Report - 3 March 2025
  • Wall Street rallied amid a choppy session as traders largely ignored prevailing headwinds namely the growing animosity between Zelensky and Trump coupled with the US economic slowdown.
  • In view of this, market undertone remains fragile as the US 10-year yield eased to 4.203%.
  • Over in Hong Kong, the HSI tumbled by almost 780 points to just below the 23,000 level on fresh concerns over Trump’s sweeping tariffs and a slowing US economy.
  • Back home, the FBM KLCI closed lower at below the 1,575 mark along with a weak regional performance as market volatility heightened.
  • In line with the daily circus from Trump, we can only expect daily narratives to dictate the market direction as fundamentals would be sidelined for the time being.
  • As such, we expect the index to hover within the 1,570-1,580 range today despite the recently concluded 4Q earnings that are deemed to be decent.
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