Daily Market Report - 4 June 2025
Daily Market Report - 4 June 2025

Daily Market Report - 4 June 2025

  • Wall Street closed broadly higher as sentiment was boosted by potential reversal of Trump’s tariff policy which many see as more of a negotiation tool. Nonetheless, many are also wary of the tariff’s effects on the US economic data. Meanwhile, the US 10-year yield inched higher at 4.458%. In Hong Kong, the HSI rebounded past the 23.500 mark as sentiment was buoyed by the likelihood of a high level discussion between Xi and Trump to mitigate the ongoing trade tension. Whether this will take place remains to be seen, but expectations were rather hyped up. On the home front, the FBM KLCI continues to decline and at one moment even broke the 1,500 psychological level. Nonetheless, selective bargain hunting managed to push the index back up to above the 1,500 mark. Overall, market undertone is still weak, hence the directionless benchmark index exacerbated by the persistent selling by foreign funds. For today, we expect the index to trend between the 1,500-1,510 range again.
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