Daily Market Report - 28 August 2025
- Wall Street closed on a high as sentiment remains boosted by expectations of a rate cut by the Federal Reserve next month.
- Nonetheless, the tech bellwether Nvidia fell in extended trading despite coming in with some solid earnings, as traders are worried of its purported sales of chips to China.
- Meanwhile, the US 10- year yield eased to 4.238%.
- In Hong Kong, the HSI failed to sustain its strong opening as it ended in negative territory as sellers emerged ahead of Nvidia’s earnings and the ongoing China-US trade tension.
- On the home front, the FBM KLCI reversed previous day’s losses to close at a day’s high from apparent local institution support.
- Contrary to our initial concerns, we deem this immediate rebound as encouraging as it displayed the market’s resilience.
- For today, we expect the index to possibly trend within the 1,590-1,605 range.
