Daily Market Reports Issued By Rakuten Trade Research : Page 1

Wall Street closed broadly lower as traders are now worried that Trump’s as president may not be as positive as initially expected amid the elevated interest rates and heightened uncertainties.
In view of the highly anticipated 25bps rate cut anytime soon, the US 10-year yield eased to 4.395%.
As for Hong Kong, the HSI declined further as investors remained disillusioned over the lack of details from Beijing’s recent mention of easing measures policy, while waiting for the Fed decision to adjust interest rates soon.
On the local front, the FBM KLCI finally relented from the continuous foreign fund selling as it closes below the 1,600 level.
Admittedly, it was another dismal day for regional markets, especially those within the SEA region.
The recent weakness of the local bourse has rendered valuation to a more alluring level estimated at 14.7x currently based on 2025 numbers.
For today, we expect the index to hover within the 1,595-1,605 range.

Wall Street ended mixed again as sentiment remains cautious ahead of the FOMC 2-day meeting starting today.
While the DJIA closed negatively, the Nasdaq added 247 points to another record high.
Meanwhile, the US 10-year yield stayed elevated at 4.403% illustrating that the market may have priced in the highly anticipated rate cut by the Fed.
Over in Hong Kong, the HSI declined to almost a 2-week low as investors remained wary of China’s patchy economic performance following the latest House Price index and retail sales data which both fared badly thus highlighting deflationary pressures again.
Back home, the FBM KLCI dipped slightly amid a sea of red regionally as selling from foreign funds persisted.
Nonetheless, we noticed there were some buying activities within the local bourse, indicating that 1,600 remains as the immediate support at the moment.
Hence, we expect the index to trend between the 1,605-1,615 range today.

Wall Street closed mixed as traders were mostly sidelined ahead of the FOMC meeting next week.
Though many expect the Fed to cut rates, the US 10-year yield remains stubbornly high at 4.395%.
This will place the US National debt currently at USD36.2 trillion in a very interesting position when the suspension of the debt ceiling ends on January 1, 2025.
Over in Hong Kong, the HSI slumped to below the 20,000 level as the conclusion of the Chinese economic policy meeting failed to satisfy investors.
While waiting for more clarity, China’s bond market rallied with the 10-year yield hitting a record low of 1.773%.
Back home, the FBMKLCI rebounded to close near the 1,610 level amid the emergence of buying activities.
We believe liquidity within the local bourse is still low but remain hopeful that the index will test 1,630 before 2024 ends.
For today, we expect the index to hover within the 1,605-1,615 range.

Wall Street closed broadly lower as the producer price index (PPI) which tracks wholesale prices came in hotter than anticipated, heightening concerns if inflation could be curtailed.
Despite many expecting the Fed to cut rate next week, the US 10-year yield edged higher to 4.336%.
As for Hong Kong, the HSI rebounded as investors wait for more details from a key Chinese economic policy meeting coupled with improved expectations that the Fed will cut rate following a tame CPI figure for November.
Back home, the FBM KLCI closed marginally lower amid some bargain hunting activities particularly when the index dipped below the 1,600 level.
In view of the low market liquidity, we believe performance of the local bourse to remain lacklustre thus expect the index to trend between the 1,600-1,610 range today.

Wall Street closed mixed as sentiment remained jittery amid the high expectations and market valuations.
While the DJIA ended lower, the Nasdaq notched another record high as many expect the Fed to reduce interest rate underpinned by November’s CPI figure that came in within expectations.
Meanwhile, the US 10-year yield inched higher at 4.275%.
Over in Hong Kong, the HSI eased further as traders are waiting for more details from China’s economic conference which kicked-off yesterday.
As a result, the HSI slid from the intra-day high of almost 21,000 on Tuesday to currently at the 20,100 threshold.
On the home front, the FBM KLCI continued with its decline, back to around 1,600 amid persistent selling by foreign funds.
We were indeed perplexed by the unrelenting foreign unloading that started in October rendering the local bourse short of liquidity.
Nonetheless, we believe 1,600 to remain as a solid psychological support for now thus expect the index to hover within the 1,600-1,610 today