Daily Market Report - 7 November 2025
- Wall Street tumbled as concerns over a valuation bubble of AI-related stocks intensified.
- Sentiment was further worsened by the state of the labour market as October saw a significant number of layoffs.
- Meanwhile, the US 10-year yield eased to 4.085%.
- As for Hong Kong, the HSI climbed to almost the 26,500 level attributed to emergence of bargain hunters.
- Concerns over the lofty valuations seems to be overdone amongst Asian AI-related stocks as most are trading at decent levels unlike their US counterparts.
- Back home, the FBM KLCI declined slightly to below the 1,620 mark notwithstanding a strong morning session, possibly due to foreign selling again.
- This is despite BNM maintaining the OPR propping the MYR higher currently at 4.18 against the greenback.
- Meanwhile, YTL Power’s success in its AU$284m tax dispute should be good news for the group.
- In view of this, we believe buying activities should return hence expect the index to trend within the 1,620-1,630 range today.
