Daily Market Report - 3 March 2025
- Wall Street rallied amid a choppy session as traders largely ignored prevailing headwinds namely the growing animosity between Zelensky and Trump coupled with the US economic slowdown.
- In view of this, market undertone remains fragile as the US 10-year yield eased to 4.203%.
- Over in Hong Kong, the HSI tumbled by almost 780 points to just below the 23,000 level on fresh concerns over Trump’s sweeping tariffs and a slowing US economy.
- Back home, the FBM KLCI closed lower at below the 1,575 mark along with a weak regional performance as market volatility heightened.
- In line with the daily circus from Trump, we can only expect daily narratives to dictate the market direction as fundamentals would be sidelined for the time being.
- As such, we expect the index to hover within the 1,570-1,580 range today despite the recently concluded 4Q earnings that are deemed to be decent.
