Daily Market Report - 9 Jan 2025
- Wall Street finished mixed, fluctuating between minor gains and losses throughout the session, as investors prepared for the highly anticipated jobs report and assessed the potential risks of policies such as mass deportations and tariffs, which could spark a global trade war and fuel inflationary pressures.
- The Dow and S&P 500 gained 0.25% and 0.16%, respectively, while profit-taking in tech stocks caused the Nasdaq to slip by 0.06%.
- Over to Hong Kong, the HSI fell for a third day to a six-week low on concerns a robust US labour market will restrain the Federal Reserve from more interest-rate cuts this year.
- Back home, the FBM KLCI ended lower reflecting the overall negative performance of regional bourses.
- We observe a cautious market sentiment as investors brace for policy adjustments following US President-elect Donald Trump's swearing-in on 20th January.
- On the flip side, we see yesterday’s market decline provides an opportunity for investors to accumulate at lower prices, supported by appealing valuations.
- As such, we expect the FBM KLCI to trade within the range of 1,615–1,625 for today.
