Daily Market Reports Issued By Rakuten Trade Research : Page 1

Wall Street closed broadly higher on hope that Trump would hold back some of his wide ranging tariffs plans so that the US may avert an economic slowdown and rising inflation.
Meanwhile, the US 10-year yield inched higher at 4.338%.
Over in Hong Kong, the HSI managed to claw back earlier losses back to almost the 24,000 mark as bargain hunting activities emerged following a decline from its YTD high from the 24,800 level last week.
Market undertone seems robust despite the inherent concern over more Trump’s tariffs going forward.
Back home, the FBM KLCI closed slightly lower but managed to stay above the 1,500 mark as selling by foreign funds persisted amid a choppy session.
Outlook remains boring as the daily volume is still stuck at around the 3bn shares level.
In view of a lack of fresh funds, we believe the index to hover within the 1,500- 1,510 range again today.

Wall Street managed to barely close positively on a “quadruple witching day” when stock and index options, index and single stock futures expire.
Despite all 3 major indices coming off their lows, trading was choppy as sentiment remain cautious over the tariff uncertainties.
Meanwhile, the US 10-year yield inched higher at 4.25%.
Over in Hong Kong, the HSI slumped further citing the narrowing valuation gap between the Chinese and US tech companies.
Dismal results from CK Hutchinson Holdings further compounded the sell-down.
On the local front, the FBM KLCI ended above water, but market undertone was jittery as selling by foreign funds remains evident.
Though we noticed some early buying support, this evaporated as foreign disposal became more pronounced.
As a result, we expect the index to hover within the 1,500-1,510 range today.

Wall Street closed lower despite a bright opening as sentiment turned cautious amid Trump’s tariff uncertainties coupled with the Fed’s not too optimistic outlook on inflation and economic growth.
Meanwhile, the US 10-year yield eased slightly to 4.241%.
Over in Hong Kong, the HSI slumped by more than 560 points to end at a 3-day low as recent rally is showing some fatigue.
In addition, the Fed’s neutral stance on interest rates may also have diluted expectations of rate cuts going forward.
Back home, the FBM KLCI maintained its decline as selling by the foreign funds remains unrelenting.
Regardless, we believe at current levels bargain hunting activities should emerge anytime soon, especially when the index dips below the 1,500 level.
We believe the weakness can also be attributed to the weak futures on Wall Street whereby the DJIA and Nasdaq are losing almost 200 points at time of writing.
For today, we expect the index to trend between the 1,495-1,515 range.

Wall Street ended broadly higher after Federal Reserve chairman Jerome Powell reaffirmed that 2 rate cuts are still on the plate this year.
Meanwhile, the Feds are keeping rates steady for now citing the solid US economy and labour market as the US 10-year yield eased to 4.248%.
In Hong Kong, the HSI closed on a flat note as investors were sidelined ahead of the Fed’s policy meeting.
The HSI is also bracing for earnings from 38 companies over the next few days, which many are expecting to be good.
On the home front, the FBM KLCI ended lower as foreign selling remains prevalent amid a lacklustre trading session.
The lack of domestic catalyst and the flight of funds to Hong Kong, continue to be the bane for the local bourse hence we expect the index to hover within the 1,515-1,525 range today.

Wall Street closed lower as selling resumed after 2 days of uptrend.
Sentiment was cautious as trading remains choppy.
Attention was also shifted to the Federal Reserve 2-day meeting ending later today on interest rates.
Meanwhile, the US 10-year yield inched higher at 4.285%.
Over in Hong Kong, the HSI surged to a 3-year high on hopes that a potential meeting between Trump and Xi Jinping will ease the ongoing trade war tension.
As expected on the home front, bargain hunters continued to accumulate shares that had been sold down since early March.
Nonetheless, we believe accumulation of stocks to be subdued as illustrated by the failure to breach the 1,530 resistance level at the moment.
We anticipate the index to possibly play catch up following an encouraging regional performance yesterday thus expect the index to hover within the 1,525-1,535 range today.

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