Daily Market Report - 19 Mar 2025
- Wall Street closed lower as selling resumed after 2 days of uptrend.
- Sentiment was cautious as trading remains choppy.
- Attention was also shifted to the Federal Reserve 2-day meeting ending later today on interest rates.
- Meanwhile, the US 10-year yield inched higher at 4.285%.
- Over in Hong Kong, the HSI surged to a 3-year high on hopes that a potential meeting between Trump and Xi Jinping will ease the ongoing trade war tension.
- As expected on the home front, bargain hunters continued to accumulate shares that had been sold down since early March.
- Nonetheless, we believe accumulation of stocks to be subdued as illustrated by the failure to breach the 1,530 resistance level at the moment.
- We anticipate the index to possibly play catch up following an encouraging regional performance yesterday thus expect the index to hover within the 1,525-1,535 range today.
