The FBMKLCI advanced for the second day and closed at 1,772.39pt (1.31pt, +0.07%) yesterday on bargain hunting activities. Meanwhile, Asian equities extended gains and the yen tumbled as the prospect of war between the US and North Korea receded, buoying stocks from New York to Tokyo and diverting flows away from haven assets. The MSCI Asia Pacific Index advanced 0.2% to 158.72 as of 4:33pm in Hong Kong, set for a second day of gains as consumer staples and finance stocks rose. The FBMKLCI’s top gainers were British American Tobacco (+1.9%), Digi.Com (+1.7%) and KLCC Property Holdings (+1.5%), while the top losers were Hap Seng Consolidated (-1.4%), MISC (-1.1%) and Hong Leong Financial Group (-0.95%). In the broader market, gainers outpaced losers 523 to 329 with 366 counters unchanged. Turnover was 1.80b shares valued at RM1.80b. Despite opening a tad higher, the FBMKLCI was unable to move up further and traded in a tight range of 1,768-1,773 yesterday, suggesting investors remain cautious on the uncertain market. Although looking shaky, support levels were maintained as persistent buying interest absorbed selling pressure. However, the index has formed a “spinning top” pattern, which suggests indecisive moves ahead. We advise investors approach the market cautiously. The support and resistance levels are as follows:
US stocks ended little changed on Tuesday as declines in Home Depot and other retailers following results offset upbeat retail sales data. At the close in NYSE, the DJIA gained 0.02%, the S&P 500 index declined 0.05% and the NASDAQ Composite index declined 0.1%. Falling stocks outnumbered advancing ones on the New York Stock Exchange by 2,039 to 1,085, and 123 ended unchanged. On the Nasdaq Stock Exchange, 1,668 fell and 817 advanced, while 149 ended unchanged.
Source: UOB Kay Hian Research - 16 Aug 2017
Created by UOBKayHian | Aug 26, 2022
Created by UOBKayHian | Feb 24, 2022
Created by UOBKayHian | Dec 13, 2021
Created by UOBKayHian | Jul 12, 2021
Created by UOBKayHian | Jan 29, 2020