Daily Market Report - 15 May 2025
- Wall Street ended mixed as market players took a breather following an action packed few days.
- Focus is now on earnings primarily on the big tech companies that helped support the Nasdaq of late.
- Meanwhile, the US 10- year yield edged higher to 4.542%.
- As for Hong Kong, the HSI flew pass the 23,500 level as buyers returned buoyed by JD.com fastest earnings growth in 3 years rendering earnings expectations also grew for Tencent and Alibaba.
- Overall sentiment was positive over the diminishing inflationary fears in the US plus the de-escalation of tension between the 2 superpowers.
- On the home front, the FBMKLCI managed to close on a positive note albeit barely.
- This can be attributed to the continuous bargain hunting by foreign funds of late as illustrated from the net foreign inflows of almost RM935m over the past 2 days.
- As such, we believe the index may re-test the 1,600 mark soon thus expect it to hover within the 1,580-1,590 range today.