Daily Market Report - 28 Apr 2025
- Wall Street seems to have steadied over the past few days despite the tariff situation remains unresolved even though at a calmer condition.
- Sentiment has also improved underscored by a series of solid corporate earnings reported so far.
- Meanwhile, the US 10-year yield eased further to 4.255%.
- In Hong Kong, the HSI closed slightly higher to almost the 22,000 mark on expectations that the Federal Reserve will look to cut rates sooner than later.
- On the home front, the FBM KLCI maintained its climb to end at the 1,510 level.
- While sentiment remains cautious, we are heartened that the recent positive performance of the local bourse has been due to the return of foreign funds buying.
- If this is sustainable, we can expect a new uptrend wave with the 1,530 level as the next target.
- Notwithstanding this, we expect the index to hover within the 1,510-1,520 range today.
