Daily Market Report - 3 April 2025
- It has been a unique day on Wall Street as all 3 major indices closed positively but experienced sharp declines during after-hour trading following Trump’s massive reciprocal tariff announcement.
- Meanwhile, the US 10-year yield slid to 4.127%. In Hong Kong, the HSI pared earlier gains to end on a flat note as traders turned edgy over Trump’s decision on his latest tariffs policy later today.
- Many analysts expect if imposed, the tariffs may have adverse implications on the prospective earnings of Chinese companies.
- Back home, the FBM KLCI made an instant rebound as it closed above the 1,525 level.
- We were indeed impressed by the strong buying, especially during the afternoon session and expect the index to trend between the 1,500-1,520 range today amid heightening regional market volatility attributed to Trump’s bizarre protectionism move.
- Except for Singapore (10%) and the Philippines (17%), Malaysia’s 24% reciprocal tariff ranked the 3rd lowest within the Asia-Pacific region, with Cambodia (49%), Vietnam (46%), Thailand (36%) and Indonesia (32%) as the Top 4 targets.
