Daily Market Report - 13 Mar 2025
- Wall Street closed on a mixed note as trading remained rather choppy.
- Although all 3 major indices managed to improve towards the end of the session, spurred by a weaker than expected CPI figure, market sentiment stayed cautious amid the US ongoing tariff war against the rest of the world.
- Meanwhile, the US 10-year yield edged higher at 4.316%.
- Over in Hong Kong, the HSI declined to settle at 23,600 on concerns of escalating tariff from Trump on Canada that could spillover elsewhere.
- Nonetheless, it was also apparent that late bargain hunting activities emerged to drive the index higher to end off the day’s low.
- Back home, the FBM KLCI surprisingly was trashed rather badly to end around the 1,480 level which is a 15-month low as foreign selling gathered momentum in addition to the adjustments for ex-dividend by some major banks hence the index sharp decline.
- Though we remain adamant of a rebound, prevailing market undertone is weak hence expect the index to hover within the 1,480-1,500 range today.
