Daily Market Report - 28 Feb 2025
- Wall Street’s slump continues as Trump’s reaffirms the tariffs on Canada and Mexico will commence on March 4 while also threatened to impose a 25% tariff on the EU.
- Additionally, a jump in latest jobless claims illustrates a softening economy further erodes sentiment.
- Meanwhile, the US 10-year yield edged marginally higher at 4.266%.
- Meanwhile, Hong Kong equities ended lower as the HSI took a breather after a solid run-up recently.
- Market undertone remains positive as many expect DeepSeek’s breakthrough will improve earnings of tech companies going forward.
- Back home, the FBM KLCI also closed lower due to some profit taking activities.
- Nonetheless, we are somewhat disappointed that recent buying activities were not sustainable hence the benchmark index may experience some minor consolidation.
- As such, we anticipate the index to hover within the 1,580-1,590 range today.
