Daily Market Report - 13 Feb 2025
- Wall Street declined as the consumer price index (CPI) for January came in hotter than expected, thus delaying any hopes for rate adjustments for the time being.
- As a result, the US 10-year yield spiked to 4.627%. Over in Hong Kong, the HSI staged an impressive performance closing in at the 22,000 mark spurred by tech companies namely Alibaba and DeepSeek.
- Focus on DeepSeek has gathered pace attributed to its recent rise to prominence that has even prompted both UBS Gorup and Morgan Stanley to bullishly promoting the stock’s impact on the overall market.
- Back home, the FBM KLCI finally broke the 1,600 level underpinned by bargain hunting activities and possibly the return of foreign funds.
- As mentioned, we believe the uncertainty and high valuations on Wall Street may convert some funds into Asian-bound.
- Thus, for today we expect the index to trend within the 1,600-1,610 range.
