Daily Market Report - 11 Apr 2025
- Wall Street retreated as all 3 major indices closed broadly lower as traders came to their senses that Trump’s 90 day tariff pause is only temporary a reprieve and that the major trade war with China is still ongoing.
- Meanwhile, the US 10-year yield jumped to 4.425%. In Hong Kong, the HSI extended its gains to remain above the 20,000 mark despite Trump’s massive 145% tariff imposition.
- We believe an all-out trade war between China and the US is still ongoing hence market undertone remains uncertain.
- On the home front, the FBM KLCI experienced a sharp rebound to above the 1,450 level along with a robust regional performance.
- Though we expect bargain hunting activities to continue, prevailing market volatility may be a huge head wind for any meaningful uptrend.
- As such, we expect the index to hover within the 1,460-1,480 range today.
