Daily Market Report - 21 October 2025
- Wall Street closed broadly higher as traders decided to concentrate on the good and look past the bad amid the ongoing shutdown and outstanding credit risks.
- Meanwhile, the US 10-year yield remains flat at 3.982%.
- Over in Hong Kong, the HSI rebounded strongly following a steep decline last Friday as sentiment was boosted by 3Q GDP growth that came in largely within consensus.
- Meanwhile, there are high expectations of more easing measures during the Communist Party meeting over the next few days.
- Back home, the FBM KLCI dipped to just below the 1,610 thresholds last Friday as foreign selling persisted ahead of the long weekend.
- Nonetheless, we believe bargain hunting activities will emerge anytime soon hence expect the index to hover between the 1,605-1,620 range today.
- In addition, sentiment may be buoyed by the higher than expected 3Q GDP growth of 5.2% thus pushing 2025 GDP growth estimate to around 4.6% from 4.0% previously.
