Daily Market Report - 5 May 2025
Daily Market Report - 5 May 2025

Daily Market Report - 5 May 2025

  • Wall Street ended broadly higher buoyed by the better than expected non-farm payroll for April, easing fears of a US recession.
  • Unemployment remains at 4.2% while the US 10-year yield edged higher to 4.308%.
  • Over in Hong Kong, the HSI ascended above the 22,500 level as sentiment was boosted by optimism over the potential trade talk between China and the US coupled with strong earnings from tech giants like Xiaomi and Alibaba.
  • Back home, late buying on the local bourse saw the FBM KLCI closing above the 1,540 mark and if this is sustainable, we may see the index to re-test the 1,600 anytime soon.
  • We are indeed heartened by the return of foreign buying of late which had saw unprecedented outflows since the beginning of 2025.
  • As such, we believe the index to trend within the 1,540-1,555 range today.
  • Finally, it is also worthwhile to note that the Ringgit has strengthened to RM4.26/USD1.
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