Daily Market Report - 9 Apr 2025
Daily Market Report - 9 Apr 2025

Daily Market Report - 9 Apr 2025

  • Wall Street ended lower after Trump slapped his 104% cumulative tariff on China commencing later today.
  • All 3 major indices opened strongly but closed sharply lower from their respective day high namely the DJIA by 1,572 points (4.1%), Nasdaq by 1,049 points (6.7%) and S&P 500 by 285 points (5.6%).
  • Meanwhile, the US 10-year yield rose to 4.291%.
  • Hong Kong equities rebounded with the HSI closing above the 20,000 mark as China’s state funds stepped in accumulating shares to shore up confidence.
  • In addition, the People’s Bank of China (PBOC) would provide more re-lending to purchase stocks to safeguard stability in line with Beijing’s pledge to fight Trump’s economic bullying to the end.
  • Back home, the FBM KLCI opened with much vigor but ended on a flat note as sellers remained quite prevalent.
  • Lacking the desired buying conviction due to heightening uncertainties, we believe the index may be trapped in a consolidation mode hence expect it to hover within the 1,440-1,455 range today.
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