Daily Market Report - 9 Jan 2025
  • Wall Street finished mixed, fluctuating between minor gains and losses throughout the session, as investors prepared for the highly anticipated jobs report and assessed the potential risks of policies such as mass deportations and tariffs, which could spark a global trade war and fuel inflationary pressures.
  • The Dow and S&P 500 gained 0.25% and 0.16%, respectively, while profit-taking in tech stocks caused the Nasdaq to slip by 0.06%.
  • Over to Hong Kong, the HSI fell for a third day to a six-week low on concerns a robust US labour market will restrain the Federal Reserve from more interest-rate cuts this year.
  • Back home, the FBM KLCI ended lower reflecting the overall negative performance of regional bourses.
  • We observe a cautious market sentiment as investors brace for policy adjustments following US President-elect Donald Trump's swearing-in on 20th January.
  • On the flip side, we see yesterday’s market decline provides an opportunity for investors to accumulate at lower prices, supported by appealing valuations.
  • As such, we expect the FBM KLCI to trade within the range of 1,615–1,625 for today.
Daily Market Report - 8 Jan 2025
  • Wall Street closed lower as the latest market data pointed to a higher-than-expected number of US job openings in November, underscoring economic resilience that might prompt the Federal Reserve to pause additional rate cuts.
  • The Dow slide 0.42% while S&500 fell 1.11%.
  • Profit takings in tech stocks caused the Nasdaq plunging 1.89%.
  • The US 10- year Treasury yield rose over 7 basis points to 4.693%, after reaching an intraday peak of 4.699%, marking its highest level since April 2024.
  • In Hong Kong, the HSI ended lower as Chinese tech stocks faced a sell-off following the US designation of dozens of Chinese firms as military-linked entities.
  • Tencent Holdings and Contemporary Amperex Technology were among those blacklisted, highlighting deteriorating trade relations between the two largest economies, with tensions expected to escalate under President-elect Donald Trump's tariff policies.
  • As for the local bourse, the FBM KLCI finished higher as bargain hunting activities emerged following two days of sell-off.
  • The benchmark index is showing signs of recovery, supported by a positive EMA crossover and strong backing from local institutions.
  • We believe the upward momentum will help the index regain its strength.
  • For today, we expect the FBM KLCI to trade within the range of 1,625–1,635.
Daily Market Report - 7 Jan 2025
  • Wall Street ended the session mixed, with profit-taking weighing on the Dow, while the S&P 500 and Nasdaq extended their rallies, driven by strong demand for tech stocks.
  • Selling in telecom and utilities caused the DJIA to decline by 0.06%.
  • Meanwhile, investors turned bullish on the semiconductor sector after stellar results from Foxconn, driving Nvidia's stock to a fresh peak.
  • This momentum propelled the S&P 500 and Nasdaq to close 0.55% and 1.24% higher, respectively.
  • In Hong Kong, stocks closed lower due to a regional sell-off, as market sentiment was affected by fears that U.S. interest rate reductions may occur more slowly than anticipated.
  • Back home, the FBM KLCI fell below the 1,630 support level, and consolidation is expected to persist until a new catalyst emerges.
  • A decisive breakthrough above the 1,645 resistance level is crucial for the index to reestablish its bullish trajectory.
  • For today, the FBM KLCI is expected to trade within the 1,620 to 1,630 range, reflecting cautious market sentiment.
Daily Market Report - 6 Jan 2025
  • Wall Street rebounded after a shaky start to 2025, attributed to broad based buying as traders are still confident of more upside unpinned by decent earnings growth.
  • Meanwhile, the US 10-year yield edged higher at 4.602%.
  • Over in Hong Kong, the HSI recovered from a bad start to 2025 as China regulators ramped up institutional support via a USD7.53bn swap facility in liquid assets to rebuild confidence.
  • Back home, the FBM KLCI ended lower to just below the 1,630 level amid continued profit taking activities.
  • Despite the absence of catalysts, we believe some stock accumulation to emerge as we expect foreign funds may be forced to re-look at Asia as a prime destination in view of the stuttering US market.
  • As such, we anticipate the index to trend between the 1,630-1,640 range today.
Daily Market Report - 3 Jan 2025
  • Wall Street closed lower amid a volatile session as high valuations remain a major stumbling block with an eye on Trump’s return.
  • In addition, the latest job data showed that the US labour market is still strong and resilient hence the US 10-year yield stays elevated at 4.563%.
  • On a broader perspective, Asian markets welcomed 2025 on a weak note as investors are faced with trepidation ahead of Trump’s return to the White House.
  • As such, the HSI closed below the 20,000 mark over the uncertainty on China’s growth and Trump’s policy.
  • Back home, the FBM KLCI also ended lower to just above the 1,630 level, suffering from indigestion after almost a 30-point gain since last Friday.
  • Nonetheless, we believe this is only temporary as market valuations will play a pivotal role and Malaysian stocks are reasonably priced.
  • Therefore, we expect the index to recover and hover within the 1,630- 1,640 range today.