Daily Market Update @ 25 Oct 2024

*Daily Market Update*
Indicative as of 25/10/2024
 
*Index Daily Return* (Local Currency Terms)
🇺🇸 S&P 500 : +0.21%
🇺🇸 NASDAQ : +0.76%
🇪🇺 STOXX : +0.03%
🇲🇾 FBM KLCI : -0.57%
🇨🇳 Shanghai : -1.12%
🇭🇰 HSI : -1.30%
🇯🇵 Nikkei : +0.10%
_Source: Bloomberg_
 
*FX Rate*
🇺🇸 USDMYR : 4.3485 , +0.01%
🇬🇧 GBPMYR : 5.6389 , +0.04%
🇳🇿 AUDMYR : 2.8844 , -0.32%
🇸🇬 SGDMYR : 3.2965 , +0.05%
🇪🇺 EURMYR : 4.7053 , +0.22%
🇭🇰 MYRHKD : 1.7868 , -0.02%
🇲🇨 MYRIDR : 3583.7700 , -0.01%
🇹🇭 MYRTHB : 7.7433 , -0.04%
🇨🇳 MYRCNY : 1.6374 , +0.00%
🇯🇵 MYRJPY : 34.9670 , +0.04%
👑 Gold Spot : 2732.6600 , -0.13%
_Source: Bloomberg_
 
*MGS Yields*
MGS 5 year : 3.63% , +1 bps
MGS 10 year : 3.87% , +1 bps
MGS 20 year : 4.15% , -0 bps
MGS 30 year : 4.23% , +1 bps
_Source: Bloomberg_
 
*Daily News*
*Record Defaults Hit $800 Billion Chinese Municipal Debt Market*
Retail investors struggle to get repaid despite state support
Defaults of non-standard debt have risen to record levels 

*US Leveraged Loan Sales Hit Record $986 Billion in Repricing Run*
Issuance tops the $980 billion level reached in 2017
Recent deals involve Citadel and Fertitta Entertainment

*China Asks Carmakers to Halt Europe Expansion Over Tariff Spat*
Dongfeng said to have shelved plans to make cars in Italy
Beijing also worried about poor demand for Chinese cars in EU 

*Japanese Shares Drop After US Stocks Notch a Gain: Markets Wrap*
Dollar stems decline from prior session when US yields fell
Tesla shares jump 22% on outlook, lifting Nasdaq 100 index 

*China Plays Nice With US Partners Ahead of Possible Trump Return*
Beijing seeks to improve ties with India, UK and Japan
‘Unusually solicitous’ China braces for potential Trump win 
_Source: Bloomberg_