Daily Market Report - 23 October 2025
- Wall Street closed broadly lower on concerns over the trade tension between the US and China coupled with the ongoing government shutdown.
- In addition, disappointing earnings from Netflix and Texas Instrument further exacerbated the market’s downtrend while Tesla’s below expectation earnings saw share price lower after hours.
- Meanwhile, the US 10-year yield was flat at 3,953%.
- As for Hong Kong, the HSI declined to below the 25,800 level as sentiment was undermined by Trump’s mixed signals that his highly anticipated meeting with Xi may not happened.
- Back home, the FBM KLCI slid to almost the 1,600 mark as market undertone was impacted by the regional sell-down.
- Judging by the decline, we suspect foreign funds as the persistent sellers.
- Nonetheless, we believe bargain hunting activities should emerge thus expect the index to recover at between the 1,600-1,610 range today.
