Daily Market Report - 5 Feb 2025
- Wall Street ended higher as traders remain positive that China may obtain a temporary reprieve as did both Canada and Mexico while ignoring China’s latest tariff imposition on US goods.
- Meanwhile, the latest data showing weaker job openings in December also heightened expectations of a rate adjustment by the Fed.
- As such, the US 10-year yield eased to 4.513%.
- Meanwhile, Hong Kong equities maintained its resilience as the HSI added almost 600 points to race towards the 21,000 mark on optimism of a China-US tariff reprieve coupled with the progressive AI developments in China.
- Back home, the FBM KLCI finally showed a promising performance as buying on blue chips returned.
- Though the retail space remains tight from the lack of liquidity, we need to see better improvements in the daily volume before participation from retailers normalizes.
- For today, we anticipate the index to hover within the 1,560-1,570 range.
