Asian stock markets finished mixed on Wednesday amid heightening US-China trade tension. The local benchmark FBMKLCI (KLCI) eased 2.65pts or 0.17% to end the day at 1,603.23. Healthcare (+9.64%) emerged as the best performing sector boosted by glove players. Other sector gainers included technology (+1.12%) and utilities (+0.52%). Conversely, plantation (-0.67%), construction (-0.56%) and industrial products (-0.55%) were the top laggards. Trading volume surged to 6.20bn (up from 4.70bn on Tuesday) while trading value jumped to RM4.67bn (up from RM3.21bn previously). Market breadth turned slight negative as 574 gainers lost marginally to 579 decliners.

The benchmark moved in a tight range with little fluctuations yesterday. The small fluctuations is likely positive, indicating that the index is still in its base-building phase now. We expect the KLCI to find its footing near the 1,590-1,601 levels if further weakness sets in. Volatility is shirinking now but an expansion in volatility is just around the corner. Once this consolidation is completed, the benchmark is likely to continue on its uptrend journey. The next resistance is seen at 1,620-1,625 levels although there is a minor resistance at 1,610. Following support levels are at 1,582 and 1,565. Our portfolio stays in *risk-on mode* this week.

Gainers: 574
Losers: 579
Unchanged: 475

DOW: 39,908.00 (0.88%)
S&P500: 5,308.15 (1.17%)
NASDAQ: 16,742.39 (1.40%)
FTSE100: 8,445.80 (0.21%)
DAX: 18,869.36 (0.82%)
HSI: 19,073.71 (CLOSED)
STI: 3,289.42 (-0.72%)
KLCI: 1,603.23 (-0.17%)
​
USD: 4.7063 (-0.24%)
AUD: 3.1276 (0.29%)
SGD: 3.4886 (0.07%)
EUR: 5.0960 (0.09%)
GBP: 5.9412 (0.40%)
JPY: 3.0437 (0.92%)
CNY: 0.6515 (-0.10%)
HKD: 0.6026 (-0.22%)
​
WTI: 78.63 (0.78%)
Brent: 82.75 (0.45%)
GOLD: 2,385.99 (1.18%)
3rd MONTH FCPO: 3,861.00 (1.21%)
Msia 10 yr bond yield: 3.8100 (-0.74%)
US 10 yr bond yield: 4.3400 (-2.24%)
ICE LIBOR USD 3M: 5.5883 (0.08%)
Bitcoin Futures: 66,875 (7.30%)
Source: Bloomberg

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