Daily Market Report - 14 Feb 2025
- Wall Street rebounded as concerns over inflationary pressure eased for now coupled with Trump’s delay in implementing reciprocal tariffs on foreign nations.
- Meanwhile, the US 10-year yield dipped to 4.533%.
- Over in Hong Kong, it was a tale of two halves as the HSI surged past the 22,000 mark only to decline due to profit taking activities towards the latter part of the session.
- Nonetheless, we believe Hong Kong equities may be back in foreign funds radar hence recent uptrend is still intact.
- Back home, the FBM KLCI sank to the 1,590 level as profit taking activities emerged.
- We were surprised by the selling possibly from foreign funds in such a quick manner.
- Nonetheless, we still believe that funds will converge within the Asian region and the local bourse may benefit from the spillover effect.
- As such, we expect the index to hover within the 1,590-1,600 range today.
- Meanwhile, gold price has surged past the USD2,900/oz threshold and is looking at USD3,000/oz as the immediate target.
