Daily Market Report - 13 August 2025
- Wall Street closed broadly higher with both the S&P500 and Nasdaq at record highs after the latest CPI figure came in slightly below expectations thus paving way for the Feds to cut rate next month.
- Meanwhile, the US 10- year yield edged higher at 4.289%.
- Over in Hong Kong, the HSI ended on a positive note after hovering within a narrow range.
- Overall trading remained lacklustre as traders were mostly side-lined ahead of more economic data and corporate earnings.
- On the home front, the FBM KLCI closed firmer but off the day’s high possibly due to profit taking activities.
- Despite the 30 points gain over the past 5 days, we regard the local bourse’s valuation remains reasonable hence expect more legs for the index towards the 1,600 level.
- For today, we expect the index to trend within the 1.565-1,580 range.
