Market Reports

Daily Market Report - 5 May 2025
Daily Market Report - 5 May 2025
  • Wall Street ended broadly higher buoyed by the better than expected non-farm payroll for April, easing fears of a US recession.
  • Unemployment remains at 4.2% while the US 10-year yield edged higher to 4.308%.
  • Over in Hong Kong, the HSI ascended above the 22,500 level as sentiment was boosted by optimism over the potential trade talk between China and the US coupled with strong earnings from tech giants like Xiaomi and Alibaba.
  • Back home, late buying on the local bourse saw the FBM KLCI closing above the 1,540 mark and if this is sustainable, we may see the index to re-test the 1,600 anytime soon.
  • We are indeed heartened by the return of foreign buying of late which had saw unprecedented outflows since the beginning of 2025.
  • As such, we believe the index to trend within the 1,540-1,555 range today.
  • Finally, it is also worthwhile to note that the Ringgit has strengthened to RM4.26/USD1.
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Daily Market Report - 2 May 2025
Daily Market Report - 2 May 2025
  • Wall Street rose as traders preferred to focus on the results posted by both Meta Platforms and Microsoft that beat expectations.
  • This came when weekly jobless claims increases, showing a slowing economy with the US 10- year yield edged higher at 4.216%.
  • The Hong Kong and Malaysia markets were closed for Labour Day yesterday.
  • Nonetheless, both markets ended on a positive note on Wednesday.
  • The HSI maintained above the 22,000 level buoyed by heavyweights namely AIA and Xiaomi despite a weakened PMI (purchasing manager’s index) for April.
  • Back home, the FBM KLCI sprung another surprise by surging past the 1,530 level to close at 1,540.
  • Though buying was broad-based, we noticed interests were particularly centred on the banks, telcos and Petronas related companies.
  • Meanwhile, earnings reported so far have been rather encouraging, indicating corporate Malaysia may be on the right track to achieve the estimated 16% growth for CY2024.
  • As such, we expect the index to trend within the 1,535-1,545 range today.
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Daily Market Report - 30 Apr 2025
Daily Market Report - 30 Apr 2025
  • Wall Street closed firmer following statement from the White House that the US is close to a trade deal with India.
  • Meanwhile, traders are also looking at earnings from Meta and Microsoft later today and that the US 10-year yield continued to slide to 4.172%.
  • In Hong Kong, the HSI rose marginally as traders are waiting for earnings from the banks following HSBC impressive 1Q25 results that beat estimates while also keeping an eye on the latest developments of the ongoing trade war.
  • On the home front, the FBM KLCI retreated to around the 1,515 level amid profit taking activities despite a strong opening.
  • The benchmark index gained around 25 points over the previous 4 days before today’s retracement.
  • Hopefully this is just a brief correction ahead of Labour Day break this Thursday.
  • Nonetheless, we believe market undertone remains strong underscore by the reasonable market valuations hence expect the index to hover within the 1,510-1,525 range today.
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Daily Market Report - 29 Apr 2025
Daily Market Report - 29 Apr 2025
  • Wall Street ended mixed with an eye on corporate earnings coupled with the so-called ongoing trade negotiation with China as stated by Trump even though the Chinese denied such statement.
  • Meanwhile, the US 10-year yield eased to 4.206%.
  • Over in Hong Kong, the HSI was flattish as Beijing latest economic updates failed to inspire investors’ confidence in the absence of any stimulus measures.
  • Nonetheless, Goldman Sachs expect Chinese funds to increase buying of Hong Kong stocks this year by 50% to around USD110bn.
  • Back home, the FBM KLCI maintained its ascension with another impressive performance pushing the index to above the 1,520 level.
  • We suspect foreign buying is playing a large part in this after 3 consecutive days of net inflows amounting to USD540m.
  • We are indeed surprised by the sudden U-turn after 4 months of relentless foreign selling this year.
  • If such buying continues, we may see the index to hover between the 1,520-1,530 range today and surpass the crucial 1,530 mark anytime soon.
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Daily Market Report - 28 Apr 2025
Daily Market Report - 28 Apr 2025
  • Wall Street seems to have steadied over the past few days despite the tariff situation remains unresolved even though at a calmer condition.
  • Sentiment has also improved underscored by a series of solid corporate earnings reported so far.
  • Meanwhile, the US 10-year yield eased further to 4.255%.
  • In Hong Kong, the HSI closed slightly higher to almost the 22,000 mark on expectations that the Federal Reserve will look to cut rates sooner than later.
  • On the home front, the FBM KLCI maintained its climb to end at the 1,510 level.
  • While sentiment remains cautious, we are heartened that the recent positive performance of the local bourse has been due to the return of foreign funds buying.
  • If this is sustainable, we can expect a new uptrend wave with the 1,530 level as the next target.
  • Notwithstanding this, we expect the index to hover within the 1,510-1,520 range today.
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