Daily Market Report - 25 Feb 2025
- Wall Street dipped as sentiment was further eroded by Trump’s statement that tariffs on Canada and Mexico will go ahead.
- Meanwhile, mass layoffs in both the public and private sectors may have negative implications on the US economy as the US 10-year yield eased to 4.40%.
- Over in Hong Kong, the HSI appears to be taking a time off to close 136 points lower following the massive surge last Friday amid the ongoing trade tension between the US and China.
- Nonetheless, cheaper valuations and the “DeepSeek” effect will remain as strong catalysts for the market going forward.
- Back home, the FBM KLCI declined to below the 1,585 mark but off the day’s low as foreign selling and bargain hunting activities emerged.
- As foreign funds are unloading their holdings within the SEA region, we see this as an excellent opportunity to mop up shares as foreign funds will certainly make a comeback sooner than later.
- Hence for today, we anticipate the index to hover between the 1,580-1,590 range as we enter into a busy results period.
