Daily Market Report - 17 Mar 2025
- Wall Street staged a relief rally as all 3 major indices closed broadly higher following the lack of headlines from the White House as “no news is good news” at this juncture.
- While the situation remains fluid, the US 10- year yield edged higher at 4.32%.
- Over in Hong Kong, the HSI rose to almost the 24,000 level as bargain hunters emerged after a 5-day decline.
- Buying interests were again centered on AI related theme.
- Meanwhile, news of China’s offshore investment offices a.k.a the “4 golden flowers” to manage its vast USD3.3trillion foreign reserves should boost sentiment going forward.
- Back home, the FBM KLCI managed to close positively after an erratic week.
- We reckon bargain hunters will continue to mop up shares around the 1,500 mark and below.
- With the “party” still ongoing in Hong Kong, we reckon ASEAN markets may experience some dull moments but will certainly make a comeback in due course.
- For today, we anticipate the index to hover within the 1,510-1,520 range.
