Daily Market Report - 2 October 2025
- Wall Street closed higher as traders largely ignored the government shutdown and hoped that it would not last long.
- Although September’s job data will be delayed amid the shutdown, many are looking at the figures from processing firm ADP that showed a drop in private payrolls, indicating that the Fed’s rate cut inevitable hence the decline in the US 10-year yield to 4.10%.
- Hong Kong market was closed for National Holiday yesterday.
- On the home front, the FBM KLCI surprisingly staged an impressive performance to end just above the 1,620 level.
- We believe recent buying support illustrates that the index should have more legs to climb higher going forward.
- Hopefully this will instigate the revival of retail participation in due course.
- For today, we expect the index to hover between the 1,620-1,630 range.
- As for gold price, it touched another record high at almost the USD3,900/oz mark.
