Daily Market Report - 29 July 2025
- Wall Street ended mixed as the trade agreement between the US and the European Union (EU) failed to spark any rally.
- Instead, traders are focusing on earnings and the FOMC meeting over the next few days.
- Meanwhile, the US 10-year yield was flat at 4.414%.
- In Hong Kong, the HSI rebounded as sentiment was buoyed by the trade agreement between the US and the EU coupled with the tariff pause extension between the US and China.
- Back home, the FBM KLCI failed to sustain the aggressive opening as the index closed below the 1,530 level.
- Despite this, we believe the benchmark index may see some bargain hunting in view that both Thailand and Cambodia agreed to an unconditional ceasefire with immediate effect, much kudos to PM Anwar’s efforts.
- As such, we expect the index to hover between the 1,530- 1,545 range today
