Daily Market Report - 25 Apr 2025
- Wall Street closed positively buoyed by a spate of encouraging corporate earnings especially from Alphabet that came in higher than forecasts, as buying interests gravitated mainly on tech-related stocks.
- Meanwhile, the US 10-year yield eased marginally to 4.315%.
- Over in Hong Kong, the HSI dipped below the 22,000 level following the US Treasury Secretary statement that the White House has not offer to lower tariffs unitarily.
- Also, traders are disappointed that the US has not shown a clear road map to de-escalate the trade tension.
- Back home, the FBM KLCI continues to flourish as the index broke the 1,500 level underpinned by foreign buying activities.
- We were surprised by the net foreign inflow on Wednesday which is a rarity this year and hopefully this will be sustainable.
- Currently lingering at below 14x PER, valuations for the local bourse are deemed attractive thus we anticipate the index to trend within the 1,500-1,515 range today.
