Daily Market Report - 17 Jan 2025
- Wall Street closed in negative territory following a choppy session amid the sell-down on mega tech stocks namely Apple, Nvidia and Alphabet.
- Meanwhile, the muted CPI data reported recently saw the US 10-year yield further easing to 4.613%.
- Over in Hong Kong, the HSI added more than 200 points to close in on the 20,000 level again as sentiment improves on the Fed rate cut possibility following a tame inflation data for December.
- On the home front, the FBM KLCI again failed to sustain its strong opening as selling pressure persists.
- The unrelenting selling predominantly from foreign funds remains high with a net outflow of RM1.45bn since the start of 2025.
- We suspect the unloading could be attributed to the uncertainty of Trump’s return hence we may see similar pattern over the next few days hence expect the index to hover within the 1,550-1,560 today.
