Daily Market Report - 26 August 2025
- Wall Street closed lower as investors were reluctant to take long positions after U.S. Federal Reserve Chair Jerome Powell indicated that a September interest rate cut was likely but not guaranteed.
- The Dow slipped 0.77% to 45,282.47, the S&P 500 fell 0.43%, and the Nasdaq eased 0.22%.
- Across Asia, markets closed higher, buoyed by strong corporate earnings, and gains in technology stocks.
- Hong Kong advanced further, led by strength in both the tech and property sectors, with the HSI gaining 1.94%.
- On the local front, the FBM KLCI closed higher, breaking the 1,600 psychological resistance level with decent volume.
- Nonetheless, we do not discount the possibility of profit-taking after five consecutive days of gains.
- Having reversed its earlier decline in May 2025, the benchmark index is trending upward with consistent higher highs and higher lows, underscoring a bullish stance.
- We believe that holding above the 1,600 level could provide the momentum needed to reach 1,650 in the near future.
- For today, we anticipate the FBM KLCI to trend within the 1,600–1,620 range.
