Daily Market Report - 21 August 2025
- Wall Street closed on a mixed note as traders continued to profit take on tech stocks fearing prevailing high valuation.
- In addition, sentiment may also be affected by the statement from the Federal Reserve that a rate cut may not be so soon over concerns on weak job market coupled with heightening inflationary pressure.
- Meanwhile, the US 10-year yield dipped to 4.291%.
- Over in Hong Kong, the HSI reversed earlier losses to end marginally higher boosted by comments from the Chinese foreign ministry which was interpreted by traders as positive developments in the ongoing USChina trade negotiation.
- Back home, the FBM KLCI closed slightly lower but off the day’s low buoyed by some late buying support.
- It was apparent that buying interests were predominantly centred on laggards, especially those within the plantation segment.
- In view of the recent accumulation stance from local institutions, we believe market undertone remains firm thus expecting the index to hover within the 1,585-1595 range today.
