Daily Market Report - 1 August 2025
- Wall Street ended lower as sentiment turned jittery over Trump’s tariff deadline today whilst traders largely ignored the solid earnings from Microsoft and Meta.
- Meanwhile, uncertainty if the Fed will adjust rates in September further weigh the market with the US 10-year yield inching higher at 4.382%.
- Over in Hong Kong, the HSI declined to below the 25,000 mark as disappointments mounted from the Federal Reserve’s no rate cut for now coupled with the unexpected weak manufacturing data in China for the month of July.
- Back home, the FBM KLCI closed lower despite some efforts to support the index amid PM Anwar’s revelation of the nation’s 13MP which we believe is rather positive.
- However, we reckon the absence of clarity on tariff for Malaysia plus the recent tax pressures on Tenaga to a tune of RM1.45bn may have been the contributory factors for the yesterday’s selling.
- As the mood has turned cautious, we expect the index to hover within the 1,510-1,525 range today.
