
Daily Market Report - 4 Feb 2025
- Wall Street closed off the day’s lows as Trump’s Tariffs Typhoon on both Mexico and Canada will take a 1-month pause after a fruitful discussion between the leaders.
- Meanwhile, the US 10-year yield inched higher at 4.553%.
- Over in Hong Kong, the HSI ended flat as buyers emerged after it dipped below the 20,000 level.
- The benchmark index opened on a weak note following Trump’s drastic tariffs measures on its neighbours.
- Nonetheless, sentiment improved on China’s advancement in the AI developments which saw major tech stocks rallied.
- Back home, the FBM KLCI closed lower but off day’s low due to bargain hunting activities.
- However, overall sentiment was cautious in line with the weak regional markets’ performances.
- In view of the heightening volatility in equities as we noticed funds are shifting to safe asset classes, especially gold where prices have surged past the USD2,800/oz.
- For today, we anticipate the index to hover within the 1,550-1,560 range as investors may prefer to stay sidelined while waiting for prevailing chaos to dissipate.