Daily Market Report - 27 March 2025
- Wall Street stocks finished lower as President Trump prepared to unveil new tariffs on US auto imports, widening the global trade war he kicked off this year.
- Three key major indices ended negatively with the DJIA and Nasdaq losing 0.31% and 2.04% respectively while S&P500 dipped 1.12%.
- Most major Asian indices finished in positive territory supported by O&G, tech and EV stocks.
- The HSI rose 0.6%, bouncing back from Tuesday’s close at the lowest level since March 4.
- Domestically, the FBM KLCI continued its upward trajectory due to bargain hunting on selected heavyweights given their cheap valuations.
- We are watching for a breakout; without it, the benchmark index may stay range-bound until fresh catalysts appear.
- Hence, we expect the FBM KLCI to trend within the range of 1,510-1,530 for today.
