Daily Market Report - 10 June 2025
- Wall Street ended flat with little changes to all 3 major indices.
- Traders were mostly side-lined while waiting for the outcome from the discussion between China and the US.
- Amid the prevailing uncertainty, the US 10-year yield slipped to 4.476%.
- Meanwhile in Hong Kong, the HSI reversed last Friday’s losses to close above the 24,000 mark as sentiment was boosted by China’s May CPI though still weak, it is better than expected and could be a prelude for more easing policies from China going forward.
- On the home front, the FBM KLCI managed to climb higher following a stop-start session as we suspect foreign selling still persists.
- YTD the local bourse has endured of more than RM11bn of net foreign outflows as most are diverting their attention to the more robust Hong Kong market.
- No thanks to Trump’s flip-flop tariff policy, consensus have downgraded overall earnings by corporate Malaysia namely the banks hence the lackluster interests on the local equities.
- For today, we anticipate the index to trend within the 1,515-1,525 range.
