Daily Market Report - 2 September 2025
- Wall Street was closed for Labor Day yesterday and will resume trading today.
- Nonetheless, all 3 major indices on Wall Street declined last Friday after latest report on consumer sentiment for July decreased while July also saw a widening US trade deficit.
- Over in Hong Kong, the HSI jumped by more than 500 points to test the 26,000 mark led by the 19% surge in Alibaba and expectations that the Federal Reserve will cut rate by mid this month.
- Back home, the FBM KLCI as expected failed to maintain its uptrend as sellers emerged ahead of the long weekend.
- As such, the index declined to below the 1,580 level.
- Nonetheless, we believe a swift rebound should occur as we expect the market undertone is still strong.
- For today, we anticipate the index to hover within the 1,575-1,590 range.
