Asian stock markets finished lower on Friday with Philippines’ PSEi (-2.09%) leading the declines. However, the local benchmark FBMKLCI (KLCI) bucked the negative trend, rising 9.08pts or 0.59% to end the day at 1,552.83. Week-on-week, the index advanced 12.97pts or 0.84%. Property (+1.20%) emerged as the top gainer for the day followed by utilities (+1.02%) and telecommunications (+0.82%). On the flip note, plantation (-0.32%), consumer products (-0.30%) and energy (-0.19%) were the top laggards. Trading volume expanded to 4.53bn (up from 4.18bn on Thursday) while trading value surged to RM4.82bn (up from RM2.76bn previously). Market breadth stayed positive five days in a row with 521 gainers outweighed 474 decliners.

The benchmark formed its second white candle last Friday and filled the huge 1,543-1,554 gap (13th Mar gap). Follow-through buying may send the bulls to retest the 20-month high at 1,559 next. The longer-term resistance is placed at 1,570-1,583. Otherwise, the index may potentially trade in a sideways manner. The 1,525-1,531 level acts as the minor support, followed by the 1,508-1,521 band. Our portfolio stays in *risk-on mode* this week.

Gainers: 521
Losers: 474
Unchanged: 518

DOW: 38,714.77 (-0.49%)
S&P500: 5,117.09 (-0.65%)
NASDAQ: 15,973.17 (-0.96%)
FTSE100: 7,727.42 (-0.20%)
DAX: 17,936.65 (-0.03%)
HSI: 16,720.89 (-1.42%)
STI: 3,172.96 (-0.42%)
KLCI: 1,552.83 (0.59%)
​
USD: 4.7072 (0.45%)
AUD: 3.0904 (-0.44%)
SGD: 3.5199 (0.06%)
EUR: 5.1300 (0.06%)
GBP: 6.0027 (-0.04%)
JPY: 3.1580 (-0.09%)
CNY: 0.6542 (0.43%)
HKD: 0.6018 (0.47%)
​
WTI: 81.04 (-0.27%)
Brent: 85.34 (-0.09%)
GOLD: 2,155.90 (-0.29%)
3rd MONTH FCPO: 4,287.00 (-0.19%)
Msia 10 yr bond yield: 3.8680 (0.44%)
US 10 yr bond yield: 4.3063 (0.37%)
ICE LIBOR USD 3M: 5.5912 (0.00%)
Bitcoin Futures: 69,925 (-3.30%)
Source: Bloomberg

*18th Mar 2024*

Source: /servlets/staticfile/534124.jsp/servlets/staticfile/534124.jspC/servlets/staticfile/534124.jspG/servlets/staticfile/534124.jspS/servlets/staticfile/534124.jsp-/servlets/staticfile/534124.jspC/servlets/staticfile/534124.jspI/servlets/staticfile/534124.jspM/servlets/staticfile/534124.jspB/servlets/staticfile/534124.jsp /servlets/staticfile/534124.jspR/servlets/staticfile/534124.jspe/servlets/staticfile/534124.jsps/servlets/staticfile/534124.jspe/servlets/staticfile/534124.jspa/servlets/staticfile/534124.jspr/servlets/staticfile/534124.jspc/servlets/staticfile/534124.jsph/servlets/staticfile/534124.jsp/servlets/staticfile/534124.jsp - 18 Mar 2024