Daily Market Reports Issued By Rakuten Trade Research : Page 8

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.

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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