Market Reports

Daily Market Report - 3 March 2025
Daily Market Report - 3 March 2025
  • Wall Street rallied amid a choppy session as traders largely ignored prevailing headwinds namely the growing animosity between Zelensky and Trump coupled with the US economic slowdown.
  • In view of this, market undertone remains fragile as the US 10-year yield eased to 4.203%.
  • Over in Hong Kong, the HSI tumbled by almost 780 points to just below the 23,000 level on fresh concerns over Trump’s sweeping tariffs and a slowing US economy.
  • Back home, the FBM KLCI closed lower at below the 1,575 mark along with a weak regional performance as market volatility heightened.
  • In line with the daily circus from Trump, we can only expect daily narratives to dictate the market direction as fundamentals would be sidelined for the time being.
  • As such, we expect the index to hover within the 1,570-1,580 range today despite the recently concluded 4Q earnings that are deemed to be decent.
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Daily Market Report - 28 Feb 2025
Daily Market Report - 28 Feb 2025
  • Wall Street’s slump continues as Trump’s reaffirms the tariffs on Canada and Mexico will commence on March 4 while also threatened to impose a 25% tariff on the EU.
  • Additionally, a jump in latest jobless claims illustrates a softening economy further erodes sentiment.
  • Meanwhile, the US 10-year yield edged marginally higher at 4.266%.
  • Meanwhile, Hong Kong equities ended lower as the HSI took a breather after a solid run-up recently.
  • Market undertone remains positive as many expect DeepSeek’s breakthrough will improve earnings of tech companies going forward.
  • Back home, the FBM KLCI also closed lower due to some profit taking activities.
  • Nonetheless, we are somewhat disappointed that recent buying activities were not sustainable hence the benchmark index may experience some minor consolidation.
  • As such, we anticipate the index to hover within the 1,580-1,590 range today.
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Daily Market Report - 27 Feb 2025
Daily Market Report - 27 Feb 2025
  • Wall Street closed mixed despite a bright opening as sentiment remains clouded by talks of more tariffs on the EU.
  • Meanwhile, the less than optimistic view of the US economy saw the US 10-year yield eased further to 4.256%.
  • Meanwhile Hong Kong equities resumed with its climb after a brief correction as Nasdaq loss seems to be Chinese Tech gains.
  • As such, the HSI added another 750 points while targeting at the 24,000 level, which was last seen in Nov-2021.
  • On the home front, the FBM KLCI jumped by 20 points recouping that it lost the day before.
  • We were indeed surprised by the strong reversal of the local bourse partly also attributed to the regional uptrend.
  • We suspect the solid emergence of buyers could also be due to the more positive expectations of the domestic corporate results which are expected to be decent for 2024.
  • In view of this, we expect the index to trend between the 1,590-1,600 range today.
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Daily Market Report - 26 Feb 2025
Daily Market Report - 26 Feb 2025
  • Wall Street continues to struggle as traders are worried over the weakening consumer confidence in view of Trump’s impact on the US economy.
  • In line with the potential negative effects, the US 10-year yield slid to 4.298%.
  • Meanwhile, it has been a choppy session in Hong Kong as the HSI dipped below 23,000 at the opening bell before recovering to post around 308 points decline or just above the 23,000 thresholds.
  • Overall sentiment was affected by the US latest move to restrict Chinese investments in US technology, infrastructure plus some critical industries.
  • Back home, the FBM KLCI slumped to below the 1,570 level as foreign selling continues in tandem with the broad-based regional declines.
  • The recent foreign sell-down has been unrelenting and though we see this as an opportune time to accumulate shares, we advocate investors to remain vigilant.
  • At current levels, the local bourse is trading at a reasonable 14.5x CY25 PER and we still hold the view that foreign buyers may return anytime soon.
  • For today, we expect the index to trend within the 1,565-1,575 range as confidence has turned fragile.
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Daily Market Report - 25 Feb 2025
Daily Market Report - 25 Feb 2025
  • Wall Street dipped as sentiment was further eroded by Trump’s statement that tariffs on Canada and Mexico will go ahead.
  • Meanwhile, mass layoffs in both the public and private sectors may have negative implications on the US economy as the US 10-year yield eased to 4.40%.
  • Over in Hong Kong, the HSI appears to be taking a time off to close 136 points lower following the massive surge last Friday amid the ongoing trade tension between the US and China.
  • Nonetheless, cheaper valuations and the “DeepSeek” effect will remain as strong catalysts for the market going forward.
  • Back home, the FBM KLCI declined to below the 1,585 mark but off the day’s low as foreign selling and bargain hunting activities emerged.
  • As foreign funds are unloading their holdings within the SEA region, we see this as an excellent opportunity to mop up shares as foreign funds will certainly make a comeback sooner than later.
  • Hence for today, we anticipate the index to hover between the 1,580-1,590 range as we enter into a busy results period.
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