Market Reports

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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Daily Market Report - 7 Feb 2025
Daily Market Report - 7 Feb 2025
  • Wall Street ended on a mixed note as traders weighed the latest batch of corporate earnings which was also a mixed bag.
  • Focus is now centred on company specifics while largely ignoring the tariffs scenario at the moment.
  • Meanwhile, the US 10-year yield inched higher at 4.436%.
  • In Hong Kong, despite the financial whirlwind amid the US/China trade tension, the HSI seems to be able to navigate the uncertainties nicely so far by maintaining above the 20,000 level and closing in on the 21,000 mark.
  • Meanwhile, investors are positive that more policy measures are expected from Beijing soon.
  • On the home front, the FBM KLCI conducted a late mini rally to fly past the 1,580 level possibly due to the return of foreign funds.
  • If this persists, we are confident that the index will re-test the 1,600 thresholds anytime soon.
  • As such, we anticipate the index to hover within the 1,580-1,590 range today.
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Daily Market Report - 6 Feb 2025
Daily Market Report - 6 Feb 2025
  • Wall Street ended higher as traders are looking past the prevailing tariff uncertainty underscored by strong earnings from a selection of tech-based companies.
  • Meanwhile, the US 10-year yield eased further to 4.424%.
  • It is worthwhile noting that the US 10-year yield had declined from 4.8% a month ago to current level.
  • Over in Hong Kong, the HSI eased by almost 200 points as sentiment was weighed down by Trump’s tariff uncertainty amid the ongoing trade tension.
  • Meanwhile, Trump’s tactics help pushed gold prices to another record high to almost USD2,900/oz level.
  • Back home, the FBM KLCI maintained its climb to close above the 1,570 mark thus illustrating that foreign selling may be done for now.
  • We are still adamant that flight of funds from overseas will eventually land into Asia attributed to the reasonable valuations where the risk-reward ratio is better.
  • That said, we still need to see if prevailing stock accumulation is sustainable hence expect the index to hover within the 1,570-1,580 range today.
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Daily Market Report - 5 Feb 2025
Daily Market Report - 5 Feb 2025
  • Wall Street ended higher as traders remain positive that China may obtain a temporary reprieve as did both Canada and Mexico while ignoring China’s latest tariff imposition on US goods.
  • Meanwhile, the latest data showing weaker job openings in December also heightened expectations of a rate adjustment by the Fed.
  • As such, the US 10-year yield eased to 4.513%.
  • Meanwhile, Hong Kong equities maintained its resilience as the HSI added almost 600 points to race towards the 21,000 mark on optimism of a China-US tariff reprieve coupled with the progressive AI developments in China.
  • Back home, the FBM KLCI finally showed a promising performance as buying on blue chips returned.
  • Though the retail space remains tight from the lack of liquidity, we need to see better improvements in the daily volume before participation from retailers normalizes.
  • For today, we anticipate the index to hover within the 1,560-1,570 range.
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Daily Market Report - 4 Feb 2025
Daily Market Report - 4 Feb 2025
  • Wall Street closed off the day’s lows as Trump’s Tariffs Typhoon on both Mexico and Canada will take a 1-month pause after a fruitful discussion between the leaders.
  • Meanwhile, the US 10-year yield inched higher at 4.553%.
  • Over in Hong Kong, the HSI ended flat as buyers emerged after it dipped below the 20,000 level.
  • The benchmark index opened on a weak note following Trump’s drastic tariffs measures on its neighbours.
  • Nonetheless, sentiment improved on China’s advancement in the AI developments which saw major tech stocks rallied.
  • Back home, the FBM KLCI closed lower but off day’s low due to bargain hunting activities.
  • However, overall sentiment was cautious in line with the weak regional markets’ performances.
  • In view of the heightening volatility in equities as we noticed funds are shifting to safe asset classes, especially gold where prices have surged past the USD2,800/oz.
  • For today, we anticipate the index to hover within the 1,550-1,560 range as investors may prefer to stay sidelined while waiting for prevailing chaos to dissipate.
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