Market Reports

Daily Market Report - 17 Feb 2025
Daily Market Report - 17 Feb 2025
  • Wall Street ended mixed as traders selectively ignored the weaker than expected Retail sales for January.
  • As such, while the Nasdaq closed positively on persistent demand for tech stocks, both the DJIA and S&P500 declined.
  • Meanwhile, the US 10-year yield eased further to 4.478%.
  • Over in Hong Kong, the HSI surged past the 22,000 underscored by improving sentiment over the muted responses between both the US and China on the prevailing trade war.
  • Meanwhile, attention is also centred on the assembly of China’s tech giants in Beijing today.
  • On the home front, the FBM KLCI was flat attributed to last minute buying on blue chips.
  • Though the benchmark index performance has been rather erratic so far, we are convinced that the return of buying in Hong Kong illustrates that Asia is becoming the preferred destination for foreign funds and that ASEAN should benefit in due course.
  • For today, we anticipate the index to trend between the 1,590-1,600 range.
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Daily Market Report - 14 Feb 2025
Daily Market Report - 14 Feb 2025
  • Wall Street rebounded as concerns over inflationary pressure eased for now coupled with Trump’s delay in implementing reciprocal tariffs on foreign nations.
  • Meanwhile, the US 10-year yield dipped to 4.533%.
  • Over in Hong Kong, it was a tale of two halves as the HSI surged past the 22,000 mark only to decline due to profit taking activities towards the latter part of the session.
  • Nonetheless, we believe Hong Kong equities may be back in foreign funds radar hence recent uptrend is still intact.
  • Back home, the FBM KLCI sank to the 1,590 level as profit taking activities emerged.
  • We were surprised by the selling possibly from foreign funds in such a quick manner.
  • Nonetheless, we still believe that funds will converge within the Asian region and the local bourse may benefit from the spillover effect.
  • As such, we expect the index to hover within the 1,590-1,600 range today.
  • Meanwhile, gold price has surged past the USD2,900/oz threshold and is looking at USD3,000/oz as the immediate target.
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Daily Market Report - 13 Feb 2025
Daily Market Report - 13 Feb 2025
  • Wall Street declined as the consumer price index (CPI) for January came in hotter than expected, thus delaying any hopes for rate adjustments for the time being.
  • As a result, the US 10-year yield spiked to 4.627%. Over in Hong Kong, the HSI staged an impressive performance closing in at the 22,000 mark spurred by tech companies namely Alibaba and DeepSeek.
  • Focus on DeepSeek has gathered pace attributed to its recent rise to prominence that has even prompted both UBS Gorup and Morgan Stanley to bullishly promoting the stock’s impact on the overall market.
  • Back home, the FBM KLCI finally broke the 1,600 level underpinned by bargain hunting activities and possibly the return of foreign funds.
  • As mentioned, we believe the uncertainty and high valuations on Wall Street may convert some funds into Asian-bound.
  • Thus, for today we expect the index to trend within the 1,600-1,610 range.
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Daily Market Report - 12 Feb 2025
Daily Market Report - 12 Feb 2025
  • Wall Street ended mixed as traders are concerned over Jerome Powell’s statement that the escalation of global trade war may derail any hopes for potential rate cuts hence pushing the US 10-year yield higher at 4.537%.
  • In Hong Kong, the HSI declined from its 4-month high on fears over the latest blanket 25% tariffs imposed on steel and aluminum imports by Trump commencing today.
  • Though the index remains above the 21,000 level, sentiment was also affected by the possible delay or no rate cut by the Fed.
  • On Monday, the FBM KLCI closed flat following a rather choppy session.
  • Though the benchmark index opened lower, intermittent bargain hunting activities managed to push the index higher before the break for Thaipusam.
  • Daily volume remained low as the focus is still on the blue chips for now, hence expect the index to trend within the 1,585-1,595 range today.
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Daily Market Report - 10 Feb 2025
Daily Market Report - 10 Feb 2025
  • Wall Street declined as sentiment turned cagey whilst inflationary pressure remains evident.
  • The latest unemployment rate fell to 4% from 4.1% however, the average hourly earnings were higher than expected for January.
  • As such, the US 10-year yield spiked up to 4.495%.
  • Over in Hong Kong, the HSI maintained its impressive performance to end at above the 21,000 level spurred on by the tech sector which showed promising advancements of late.
  • On the home front, the FBM KLCI continues with its climb to land at 1,590 as we believe foreign funds may have returned.
  • Though the daily trading volume remains subdued we are hopeful that this will improve as foreign money trickles back.
  • For today, we expect the index to hover within the 1,585-1,595 range.
  • Meanwhile, the CPO price seems to be making a comeback as it trended around the RM4,500/tonne.
  • For comparison, Jan 2025 CPO price averaged at RM4,670/tonne against Jan 2024 RM3,780/tonne.
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