Market Reports

Daily Market Report - 25 Apr 2025
Daily Market Report - 25 Apr 2025
  • Wall Street closed positively buoyed by a spate of encouraging corporate earnings especially from Alphabet that came in higher than forecasts, as buying interests gravitated mainly on tech-related stocks.
  • Meanwhile, the US 10-year yield eased marginally to 4.315%.
  • Over in Hong Kong, the HSI dipped below the 22,000 level following the US Treasury Secretary statement that the White House has not offer to lower tariffs unitarily.
  • Also, traders are disappointed that the US has not shown a clear road map to de-escalate the trade tension.
  • Back home, the FBM KLCI continues to flourish as the index broke the 1,500 level underpinned by foreign buying activities.
  • We were surprised by the net foreign inflow on Wednesday which is a rarity this year and hopefully this will be sustainable.
  • Currently lingering at below 14x PER, valuations for the local bourse are deemed attractive thus we anticipate the index to trend within the 1,500-1,515 range today.
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Daily Market Report - 24 Apr 2025
Daily Market Report - 24 Apr 2025
  • Wall Street maintained its rebound as traders are relieved over the same narratives of possible de-escalation of trade tension and no more flip-flopping from Trump so far.
  • At this juncture, it seems like “no news is good news” as the US 10-year yield eased slightly to 4.385%.
  • Meanwhile, Hong Kong market held steady to climb above the 22,000 mark as sentiment improved on expectations that Trump may be softening his stance on China and is even willing to lower the existing tariff of 145% substantially.
  • On the home front, the FBM KLCI surprisingly performed strongly to close above the 1,500 level after a dismal showing the day before.
  • Whether this is sustainable remains to be seen but we are hopeful that the index is able to re-test the 1,530 mark soonest possible.
  • Notwithstanding this, daily volume traded remained low at below 3.0bn shares hence we suspect market sentiment to stay cautious and expect the index to trend within the 1,500-1,515 range today.
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Daily Market Report - 23 Apr 2025
Daily Market Report - 23 Apr 2025
  • Wall Street surged on hopes that current trade tension between China and the US would ease, after Treasury Secretary Scott Bessent said that there will a de-escalation as prevailing situation is not sustainable.
  • Meanwhile Trump reiterated that he has no intension to get rid of Jerome Powell as the US 10-year yield eased marginally to 4.401%.
  • Over in Hong Kong, the HSI ended on a positive note amid a choppy session as sentiment improved on hopes of more stimulus from China.
  • As gold is testing its all-time high again, a spate of gold related stocks on the HKSE displayed solid “high-jumps” of between 5-14%.
  • Back home, the FBM KLCI closed broadly lower to below the 1,490 level mainly attributed to the emergence of foreign sellers as illustrated by the higher daily volume traded of 3.53bn shares from 1.53bn on Monday.
  • Nonetheless, we believe the index may experience some buying support today, taking cue from Wall Street’s sharp rebound.
  • As such, we expect the index to hover between the 1,490-1,500 range today.
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Daily Market Report - 22 Apr 2025
Daily Market Report - 22 Apr 2025
  • Wall Street slumped as tension between Trump and Powell escalates to new heights with Trump looking to remove Powell, but his hands may be tied in doing so.
  • However, if Trump forces it through, this will change the perception on the Federal Reserve as an independent entity.
  • Meanwhile, the US 10-year yield edged up to 4.417%.
  • Hong Kong market will resume trading today following a 2-day break.
  • Back home, the FBM KLCI closed flat amid a muted trading session.
  • We suspect foreign selling may have evaporated somewhat judging from the daily trading volume which had dwindled to 1.53bn shares yesterday, possibly the lowest we have seen YTD.
  • Although this may be good news for the index, the prevailing low daily volume is negative for the market trading velocity.
  • As such, the local bourse is in dire need of major buying catalysts with the local institutions to take the lead in accumulating shares at current reasonable levels.
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Daily Market Report - 21 Apr 2025
Daily Market Report - 21 Apr 2025
  • Both Wall Steet and the Hong Kong markets were closed for Good Friday.
  • While Hong Kong would remained shut today, Wall Street will resume trading hence we will be tracking the earnings report due this week primarily for Tesla and Alphabet as many are also looking for their respective forecasts amid the prevailing high tariff environment.
  • On the home front, the FBM KLCI surprisingly surged to almost the 1,500 mark last Friday underpinned by persistent bargain hunting activities.
  • Nonetheless, we viewed this attributed to the absence of market participants as the daily volume last Friday was a measly 1.69bn shares.
  • As trading would be back to normal today, we believe traders may take the advantage to possibly take profit hence expect the index to hover between the 1,490-1,500 range.
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