Daily Market Report - 8 May 2025
Daily Market Report - 8 May 2025

Daily Market Report - 8 May 2025

  • Wall Street closed on a positive note, albeit the Federal Reserve maintaining interest rates for the time being.
  • Citing the uncertain tariff impact on both inflation and unemployment, the Feds will wait for more data before making any move going forward.
  • Meanwhile, the US 10- year yield eased to 4.269%.
  • Over in Hong Kong, the HSI closed flat to just above the positive territory amid a lacklustre performance ahead of the US-China trade talk.
  • Nonetheless, traders are also hopeful that Beijing will look to cut both the Reserve Requirement Ratio and interest rates to further boost the equity market.
  • On the home front, the FBM KLCI closed at almost the 1,550 level courtesy from some late buying activities.
  • After 2 days of decline, we were surprised by the sudden U-turn possibly from the foreign funds that propped up the market.
  • Buying was centered mainly on the big cap laggards, and we believe these laggards will continue to play catch-up.
  • For today, we expect the index to hover between the 1,545-1560 range.
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