Daily Market Report - 20 August 2025
- Wall Street ended broadly lower as traders remained focused on the Federal Reserve summit over the next few days.
- Nonetheless, the sell-down in tech stocks were sharp as many deemed the sector is due to take a breather following a decent rally.
- Meanwhile, the US 10- year yield was flat at 4.31%.
- Over in Hong Kong, the HSI remains in a mini consolidation mode as funds are looking at mainland China stocks amid a lower interest rate environment.
- On the home front, the FBM KLCI resumed its impressive performance predominantly supported by local institutions which is heartening to see.
- If this is maintained, we believe the index can re-test the 1,600 target thereafter our 2025 target at 1,630, hopefully soon.
- As such, we will not be surprised if consensus began to upgrade their respective targets for the KLCI in due course.
- For today, we expect the index to trend between the 1,585-1,600 range.
