Daily Market Report - 5 Feb 2025
Daily Market Report - 5 Feb 2025

Daily Market Report - 5 Feb 2025

  • Wall Street ended higher as traders remain positive that China may obtain a temporary reprieve as did both Canada and Mexico while ignoring China’s latest tariff imposition on US goods.
  • Meanwhile, the latest data showing weaker job openings in December also heightened expectations of a rate adjustment by the Fed.
  • As such, the US 10-year yield eased to 4.513%.
  • Meanwhile, Hong Kong equities maintained its resilience as the HSI added almost 600 points to race towards the 21,000 mark on optimism of a China-US tariff reprieve coupled with the progressive AI developments in China.
  • Back home, the FBM KLCI finally showed a promising performance as buying on blue chips returned.
  • Though the retail space remains tight from the lack of liquidity, we need to see better improvements in the daily volume before participation from retailers normalizes.
  • For today, we anticipate the index to hover within the 1,560-1,570 range.
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