Daily Market Report - 10 March 2025
- Wall Street ended on a positive note despite a weak start as all 3 major indices experienced an afternoon rally amid a volatile session.
- Traders largely ignored the weaker job market for February as unemployment ticked higher at 4.1% from 4% before.
- In view of the softening US economy, the US 10-year yield edged higher at 4.305%.
- Over in Hong Kong, the HSI declined following a solid performance during the week.
- Nonetheless, sentiment remains positive as confidence was buoyed from the outcome of the recent NPC meeting.
- Back home, the FBM KLCI slumped to a YTD low at below the 1,550 level in line with the broad-based regional weaknesses.
- However, we expect a swift rebound thus expecting the index to hover between the 1,550-1,565 range today.
- Fundamentally, the local bourse remains sound as recent earnings result scorecard illustrates that 2025 growth is tagged at 9.2% after a 16.4% growth in 2024.
