Daily Market Report - 4 March 2025
- Wall Street slumped as Trump is going ahead with his tariffs imposed on Mexico, Canada and China commencing today.
- Meanwhile, the latest data from manufacturing and construction sectors is showing a weakening US economy hence the decline in US 10-year yield to 4.159%.
- In Hong Kong, the HSI improved but off the day’s high as investors remained cautious on heightening market volatility.
- Nonetheless, China’s improving PMI (purchasing managers’ index) of the manufacturing industry for February boosted sentiment somewhat.
- On the home front, the FBM KLCI ended slightly lower as selling by foreign funds remains quite evident following a bright opening.
- The index ended just above the 1,570 level from the lack of fresh catalysts.
- In view of the lacklustre performance by the local bourse of the late, we expect the index to hover within the 1,565-1,575 range today.
