Daily Market Report - 21 Apr 2025
- Both Wall Steet and the Hong Kong markets were closed for Good Friday.
- While Hong Kong would remained shut today, Wall Street will resume trading hence we will be tracking the earnings report due this week primarily for Tesla and Alphabet as many are also looking for their respective forecasts amid the prevailing high tariff environment.
- On the home front, the FBM KLCI surprisingly surged to almost the 1,500 mark last Friday underpinned by persistent bargain hunting activities.
- Nonetheless, we viewed this attributed to the absence of market participants as the daily volume last Friday was a measly 1.69bn shares.
- As trading would be back to normal today, we believe traders may take the advantage to possibly take profit hence expect the index to hover between the 1,490-1,500 range.
