Market Reports

Daily Market Report - 21 Apr 2025
Daily Market Report - 21 Apr 2025
  • Both Wall Steet and the Hong Kong markets were closed for Good Friday.
  • While Hong Kong would remained shut today, Wall Street will resume trading hence we will be tracking the earnings report due this week primarily for Tesla and Alphabet as many are also looking for their respective forecasts amid the prevailing high tariff environment.
  • On the home front, the FBM KLCI surprisingly surged to almost the 1,500 mark last Friday underpinned by persistent bargain hunting activities.
  • Nonetheless, we viewed this attributed to the absence of market participants as the daily volume last Friday was a measly 1.69bn shares.
  • As trading would be back to normal today, we believe traders may take the advantage to possibly take profit hence expect the index to hover between the 1,490-1,500 range.
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Daily Market Report - 18 Apr 2025
Daily Market Report - 18 Apr 2025
  • Wall Street posted a mixed close after a volatile day, with the Dow and Nasdaq declining for a third straight session.
  • The Dow lost 1.3%, dragged by UnitedHealth's disappointing results.
  • Renewed uncertainty from Trump’s erratic tariff approach and US-China tensions left markets jittery.
  • A late-session reversal saw the S&P 500 trim gains and the Nasdaq slip, as investors took risk off the table before the long weekend.
  • Asian equities edged higher, driven by optimism surrounding US-Japan trade discussions, with Trump highlighting "big progress."
  • Hong Kong’s HSI surged 1.6% on tech sector strength, while upbeat 1Q25 GDP figures from China added to positive market sentiment.
  • Domestically, the FBM KLCI continued its rebound in line with regional gains.
  • While geopolitical sentiment is improving, we remain cautiously optimistic.
  • A breakout and sustained hold above 1,500 is crucial to reinforce the uptrend.
  • We expect the index to move within the 1,470–1,500 range today.
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Daily Market Report - 17 Apr 2025
Daily Market Report - 17 Apr 2025
  • Wall Street slumped despite a strong opening as sentiment was subsequently rattled by Fed Jerome Powell’s warning on the US economy coupled with Nvidia’s USD5.5bn quarterly charge related to exporting its chips to China and other nations, inciting a tech selloff.
  • Meanwhile, the US 10-year yield eased further to 4.281%.
  • Over in Hong Kong, the HSI slipped to just above the 21,000 mark as investors largely ignored China’s solid GDP data for the 1Q25 which topped 5.4%, beating consensus estimates of 5.2% as overall sentiment remains entrenched on the ongoing trade war between the US and China.
  • On the local front, the FBM KLCI closed lower at almost the 1,475 mark as hopes for a sustainable uptrend evaporated due to the absence of buying interests amid a weak regional performance.
  • As funds are becoming increasingly “risk-off” with many are opting for gold as a safe haven, we expect the index to hover within the 1,470-1,480 range today.
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Daily Market Report - 16 Apr 2025
Daily Market Report - 16 Apr 2025
  • Wall Street ended lower despite a strong start as sentiment turned wary on the uncertainty over Trump’s tariff policy resurfaced.
  • Meanwhile, the US 10-year yield eased to 4.341%.
  • In Hong Kong, the HSI ended flattish as sentiment remains cautious over the tariff uncertainty even though Trump is displaying a softer side with the latest temporary suspension on cars.
  • Nonetheless, there are warnings that more tariffs may be introduced on the pharmaceutical and semiconductor sectors, hence adding to more uncertainty.
  • On the domestic front, the FBM KLCI edged above the 1,485 level as bargain hunters continue to mop up shares that are deem trading at reasonable valuations, currently at 13.5x as opposed to the historical 16.5x.
  • For today, we expect China’s president Xi Jinping’s visit to Malaysia may ignite some economic optimism hence anticipate the index to hover within the 1,480-1,500 range.
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Daily Market Report - 15 Apr 2025
Daily Market Report - 15 Apr 2025
  • Wall Street rebounded amid a choppy session following the latest tariff exemption on tech components and certain devices that spurred the rally of tech stocks.
  • Nonetheless in order to soothe his ego, Trump said that this is only temporary.
  • Meanwhile, the US 10-year yield eased to 4.384%.
  • Over in Hong Kong, the HSI jumped the highest in 4 weeks to close above the 21,000 level as sentiment was buoyed by news that the US is suspending tariffs on certain electronics namely personal computers, smartphones and memory chips for the time being.
  • As such, the electronic segment led the broader market gains.
  • On the home front, the FBM KLCI also performed better than anticipated, in line with the tariff suspension as the index ended at the 1,480 mark.
  • As signs are showing that Trump may be lessening his tariff grip, we believe market undertone may be improving somewhat thus expect the index to hover between the 1,480-1,500 range today.
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