Daily Market Report - 21 Feb 2025
- Wall Street declined following a lacklustre forecast by retail giant Walmart and that confidence on the retail segment was further eroded from worries about the US economic health.
- As a result, the US 10-year yield eased to 4.507%.
- Over in Hong Kong, the HSI continued to slide as investors have turned cautious that recent rally amongst the tech stocks may have been overstretched.
- Additionally, sentiment was also affected by the hawkish comments from the Federal Reserve on interest rates amid a challenging economic environment.
- On the home front, the FBM KLCI weakness continued as it ended below the 1,580 level.
- The benchmark index have had experienced consecutive declines over the past week from the 1,600 mark hence we believe bargain hunting opportunities should appear anytime soon.
- For today, we expect the index to trend within the 1,575-1,585 range.
