Daily Market Report - 11 Mar 2025
- Wall Street declined steeply as concerns of a weakening US economy gathers momentum further fuelled by hawkish comments from Trump of a transitional period for the US over the weekend.
- As a result, the chance of more rate cuts may be in the offing to 3 times this year as the US 10-year yield slid to 4.219%.
- In Hong Kong, the HSI slipped to below 24,000 level after China reported a decline in consumer price for February hence stoking fears of a potential deflation.
- On the home front, our expectations of a swift rebound did not happen.
- Instead, the index was further pressured by incessant selling to end around the 1,535 mark or a fresh YTD low, further aggravated by the broad-based regional weaknesses.
- Nonetheless, we are adamant that a quick rebound should occur anytime soon and expect the index to hover within the 1,535-1,550 range today.
