Daily Market Reports Issued By Rakuten Trade Research : Page 33

Wall Street tumbled as traders are concerned over the uncertainty from Trump’s tariff policy expiring this Wednesday.
Already Trump’s has warned that countries that is associated with the BRICS may see an additional 10%.
Meanwhile, the US 10-year yield edged higher at 4.383%.
In Hong Kong, the HSI fell to a 2-week low as traders are waiting for details on the trade deals between the US and China.
Meanwhile, most export oriented companies declined ahead of the deadline.
Back home, the FBM KLCI dipped by almost 13 points following a decent performance over the past week.
We suspect foreign funds have again turned seller illustrating their extreme short term behaviour.
Hence, we expect volatility to heighten in the run up to the 9 July expiry.
For today, we expect the index to hover between 1,530-1,545 range.

Wall Street was closed for Independence Day last Friday.
Over in Hong Kong, the HSI fell to below the 24,000 mark as traders are selling ahead of the July 9 tariff deadline.
On the local front, the FBM KLCI has been rather resilient to close just above the 1,550 level.
We suspect foreign funds continue to be buyers mainly centred on the laggard blue chips.
Though our market remains very much affected by externalities, we are hopeful that buying on local stocks should persist as valuation is still reasonable.
For today, we expect the index to trend between the 1,545-1,555 range.

Wall Street closed broadly higher following a stronger than expected job report.
Nonfarm payroll rose by 147,000 against the forecast of 110,000.
The unemployment rate fell to 4.1% vs the forecast of 4.3%.
On the flipside, the stronger job market may see delay for the Feds to cut rates hence the US 10-year yield jumped to 4.348%.
In Hong Kong, the HSI declined to just above the 24,000 level after the US latest deal with Vietnam suggest the US is targeting Chinese supply chain across the region.
Back home, the FBM KLCI fell slightly to just below the 1,550 mark possibly due to some profit taking activities.
Nonetheless, we noticed there was strong support at around this level as backed by a spike in trading volume ay above 5bn shares.
Thus, we expect the index to hover within the 1,545-1,555 range today.

Wall Street closed on a mixed note as traders awaits for June’s big job report.
Nonetheless, funds rotated back to tech stocks as the Nasdaq ended on a record high.
Meanwhile, the US 10-year yield inched higher at 4.283%.
In Hong Kong, the HSI closed positively despite the weakness amongst the tech stocks.
Funds from mainland China continue to plough into Hong Kong underpinned by optimism on growth in China.
Back home, the FBM KLCI continued with its impressive performance as it ended above the 1,550 level.
Again, we attributed this to buying from foreign funds that have turned net buyers over the past few days.
Today, we expect the index to trend between the 1,545-1,555 range.

Wall Street ended mixed as traders rotated out of tech companies.
Trump’s big beautiful was narrowly passed in the Senate but still subject to the House approval.
Meanwhile, the US 10-year yield edged slightly higher at 4.242%.
Hong Kong market was closed yesterday and will resume trading today.
On the domestic front, the FBM KLCI closed higher as we reckon this is due to some accumulation from the foreign funds.
It is interesting to see that net foreign inflows have already taken place over the past few days.
Therefore, we expect the index to hover between the 1,540-1,550 range today.

Market Reports