Daily Market Report - 20 Mar 2025
- Wall Street ended broadly higher after Federal Reserve chairman Jerome Powell reaffirmed that 2 rate cuts are still on the plate this year.
- Meanwhile, the Feds are keeping rates steady for now citing the solid US economy and labour market as the US 10-year yield eased to 4.248%.
- In Hong Kong, the HSI closed on a flat note as investors were sidelined ahead of the Fed’s policy meeting.
- The HSI is also bracing for earnings from 38 companies over the next few days, which many are expecting to be good.
- On the home front, the FBM KLCI ended lower as foreign selling remains prevalent amid a lacklustre trading session.
- The lack of domestic catalyst and the flight of funds to Hong Kong, continue to be the bane for the local bourse hence we expect the index to hover within the 1,515-1,525 range today.
