Daily Market Report - 12 August 2025
- Wall Street closed lower ahead of the crucial inflation data later this week as many expect this will dictate the Federal Reserve stance on rate cut going forward.
- As expected, the US has extended its tariff deadline on China by another 90 days.
- Meanwhile, the US 10-year yield eased slightly to 4.279%.
- In Hong Kong, the HSI ended marginally higher amid a lackustre trading session as sentiment remained cautious ahead of the expiration of the US-China tariff truce today.
- Back home, the FBM KLCI continued with its impressive climb to close above the 1,560 mark.
- The index has been well supported over the past week attributed by the buying support from local institutions.
- Despite this, we noticed foreign funds remained as net sellers which is disappointing.
- Meanwhile, we see the tariff deadline extension on China as positive and that the US may eventually relent hence expect the index to hover between the 1,555-1,570 range today.
