Daily Market Report - 30 July 2025
- Wall Street closed lower as profit taking activities emerged ahead of the Federal Reserve’s rate decision later today coupled with a mixed bag of corporate results.
- Meanwhile, the US 10-year yield eased to 4.324%.
- Over in Hong Kong, the HSI ended marginally lower but off the day’s low as sentiment turned cautious ahead of the Federal Reserve’s rate policy coupled with forthcoming earnings report.
- At the home front, the FBM KLCI declined to almost the 1,520 level despite a strong opening as we believe foreign funds took the opportunity to lock in profits after a decent run-up recently.
- Nonetheless, we reckon the sell-down was quite excessive and expect an immediate rebound otherwise we may be stuck within another consolidation phase.
- For today, we expect the index to trend between the 1,520- 1,530 range.
