Daily Market Report - 14 Jan 2025
- Wall Street closed mixed as traders are shifting their holdings out of tech into other sectors, namely power with an eye on tomorrow’s CPI figure.
- Meanwhile, the US 10-year yield edged higher at 4.79%.
- On a wider perspective Asian markets tanked as prospects of rate cuts in the US diminished following a robust job data.
- As a result, the HSI lost 190 points to end below the 19,000 level or a 4-month low.
- On the home front, the FBM KLCI weakened to below the 1,590 mark in line with the regional sell-off.
- In view of the recent sell-down, investors are re-setting their investment strategy and stay side-lined ahead of “Tariff Trump” return hence we believe this is a good opportunity to bargain hunt.
- We opined that Trump 2.0 may not be assertive cost this risk a total isolation of the US from the rest of the world. For today, we anticipate the index to hover within the 1,580- 1,595 range
