Daily Market Report - 7 Feb 2025
- Wall Street ended on a mixed note as traders weighed the latest batch of corporate earnings which was also a mixed bag.
- Focus is now centred on company specifics while largely ignoring the tariffs scenario at the moment.
- Meanwhile, the US 10-year yield inched higher at 4.436%.
- In Hong Kong, despite the financial whirlwind amid the US/China trade tension, the HSI seems to be able to navigate the uncertainties nicely so far by maintaining above the 20,000 level and closing in on the 21,000 mark.
- Meanwhile, investors are positive that more policy measures are expected from Beijing soon.
- On the home front, the FBM KLCI conducted a late mini rally to fly past the 1,580 level possibly due to the return of foreign funds.
- If this persists, we are confident that the index will re-test the 1,600 thresholds anytime soon.
- As such, we anticipate the index to hover within the 1,580-1,590 range today.
