Market Reports

Daily Market Report - 17 Mar 2025
Daily Market Report - 17 Mar 2025
  • Wall Street staged a relief rally as all 3 major indices closed broadly higher following the lack of headlines from the White House as “no news is good news” at this juncture.
  • While the situation remains fluid, the US 10- year yield edged higher at 4.32%.
  • Over in Hong Kong, the HSI rose to almost the 24,000 level as bargain hunters emerged after a 5-day decline.
  • Buying interests were again centered on AI related theme.
  • Meanwhile, news of China’s offshore investment offices a.k.a the “4 golden flowers” to manage its vast USD3.3trillion foreign reserves should boost sentiment going forward.
  • Back home, the FBM KLCI managed to close positively after an erratic week.
  • We reckon bargain hunters will continue to mop up shares around the 1,500 mark and below.
  • With the “party” still ongoing in Hong Kong, we reckon ASEAN markets may experience some dull moments but will certainly make a comeback in due course.
  • For today, we anticipate the index to hover within the 1,510-1,520 range.
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Daily Market Report - 14 Mar 2025
Daily Market Report - 14 Mar 2025
  • Wall Street tumbled as Trump intensified his “tariff bullets” towards the EU this time round. This adds to more uncertainties and unpredictability which led traders to offload US shares in view of the potential impacts on the US economy.
  • Meanwhile, the US 10-year yield eased to 4.27%.
  • In Hong Kong, the HSI continues to slide on concerns over Trump’s indecisive tariff policies and the impact on global economy amid the escalating trade war between the US and its allies.
  • As such, the index closed at just below the 23,500 level.
  • Back home, the FBM KLCI rebounded from the trading turmoil the day before to end above the 1,510 mark.
  • Looking ahead, we believe market undertone to remain cautious as fund managers with their risk-off attitude would prefer to stay side-lined at the moment.
  • Nonetheless at current levels, we would advocate investors to accumulate blue chips thus expect the index to hover within the 1,500-1,520 range today.
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Daily Market Report - 13 Mar 2025
Daily Market Report - 13 Mar 2025
  • Wall Street closed on a mixed note as trading remained rather choppy.
  • Although all 3 major indices managed to improve towards the end of the session, spurred by a weaker than expected CPI figure, market sentiment stayed cautious amid the US ongoing tariff war against the rest of the world.
  • Meanwhile, the US 10-year yield edged higher at 4.316%.
  • Over in Hong Kong, the HSI declined to settle at 23,600 on concerns of escalating tariff from Trump on Canada that could spillover elsewhere.
  • Nonetheless, it was also apparent that late bargain hunting activities emerged to drive the index higher to end off the day’s low.
  • Back home, the FBM KLCI surprisingly was trashed rather badly to end around the 1,480 level which is a 15-month low as foreign selling gathered momentum in addition to the adjustments for ex-dividend by some major banks hence the index sharp decline.
  • Though we remain adamant of a rebound, prevailing market undertone is weak hence expect the index to hover within the 1,480-1,500 range today.
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Daily Market Report - 12 March 2025
Daily Market Report - 12 March 2025
  • Wall Street slumped further amid a mud slinging contest between Trump and Canada over the latest tariffs of which both agreed to suspend temporarily.
  • However, trading on US equities remains choppy on fresh recessionary concerns.
  • Meanwhile, the US 10-year yield edged higher at 4.282%.
  • Over in Hong Kong, the HSI closed flat despite a poor opening as bargain hunters returned in the afternoon session.
  • Early sentiment was spooked by recessionary fears in the US but soon dissipated as funds mopped up shares following Citigroup downgrades on US equities.
  • Back home, the FBM KLCI maintained its lacklustre performance as it closed just above the 1,520 level.
  • Foreign funds remain net sellers as we believe many are selling down their SEA region holdings as a knee jerk reaction and move over to Hong Kong for now.
  • We are certainly buyers of local shares at current levels, trending at a cheap 14x market PER hence expect some bargain hunting activities to emerge and the index to hover within the 1,515-1,530 range today.
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Daily Market Report - 11 Mar 2025
Daily Market Report - 11 Mar 2025
  • Wall Street declined steeply as concerns of a weakening US economy gathers momentum further fuelled by hawkish comments from Trump of a transitional period for the US over the weekend.
  • As a result, the chance of more rate cuts may be in the offing to 3 times this year as the US 10-year yield slid to 4.219%.
  • In Hong Kong, the HSI slipped to below 24,000 level after China reported a decline in consumer price for February hence stoking fears of a potential deflation.
  • On the home front, our expectations of a swift rebound did not happen.
  • Instead, the index was further pressured by incessant selling to end around the 1,535 mark or a fresh YTD low, further aggravated by the broad-based regional weaknesses.
  • Nonetheless, we are adamant that a quick rebound should occur anytime soon and expect the index to hover within the 1,535-1,550 range today.
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