Stocks in Asia halted a four-day winning streak as investors’ focus shifted to earnings to back the current climb. The local benchmark FBMKLCI (KLCI) shed 0.93pts or 0.06% to end the day at 1,604.75. Most sectors ended in the black with FBMACE (+0.95%), plantation (+0.82%), healthcare (+0.65%) and technology (+0.64%) leading the gainers. On the flipside, laggards were REIT (-0.55%), financial services (-0.28%) and telecommunications (-0.13%). Trading volume eased a tad to 5.40bn (down from 5.42bn on Tuesday) while trading value fell to RM3.57bn (down from RM3.79bn previously). Market breadth marginally negative as 571 losers beat 568 gainers.

The benchmark gapped up for the fourth day in a row but alas, the bulls could not sustain the buying momentum. The KLCI eased a tad to snap its 4 consecutive days of gains but stayed above the 1,600 psychological levels yesterday, forming an inside day pattern. A close below yesterday’s low of 1,602.29 may kick start further selling pressure in the near term. Support is likely found within the 1,582-1,591 levels if a pullback takes place in the near term. The following support is at 1,565. IF there are any residual buying strength left, we do not expect the index to rally and take out the strong resistance at 1,620-1,625 anytime soon. Our portfolio stays in *risk-on mode* this week.

Gainers: 568
Losers: 571
Unchanged: 478

DOW: 39,056.39 (0.44%)
S&P500: 5,187.67 (0.00%)
NASDAQ: 16,302.76 (-0.18%)
FTSE100: 8,354.05 (0.49%)
DAX: 18,498.38 (0.37%)
HSI: 18,313.86 (-0.90%)
STI: 3,264.53 (-1.08%)
KLCI: 1,604.75 (-0.06%)
​
USD: 4.7415 (0.06%)
AUD: 3.1157 (-0.30%)
SGD: 3.4974 (-0.08%)
EUR: 5.0978 (-0.02%)
GBP: 5.9234 (-0.30%)
JPY: 3.0482 (-0.51%)
CNY: 0.6563 (-0.02%)
HKD: 0.6065 (0.10%)
​
WTI: 78.99 (0.78%)
Brent: 83.58 (0.51%)
GOLD: 2,308.85 (-0.23%)
3rd MONTH FCPO: 3,869.00 (-1.55%)
Msia 10 yr bond yield: 3.9120 (0.18%)
US 10 yr bond yield: 4.4937 (0.82%)
ICE LIBOR USD 3M: 5.5848 (-0.08%)
Bitcoin Futures: 61,830 (-3.00%)
Source: Bloomberg

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