Asian stock markets stayed mixed on Wednesday as investors stayed cautious, with an eye on the Fed’s interest rate outcome. The local benchmark FBMKLCI (KLCI) lost 9.17pts or 0.59% to end the day at 1,535.79. It was a mixed day for the sectors with the largest losses coming from financial services (-0.91%), construction (-0.53%) and REIT (-0.49%). On a positive note, healthcare (+1.71%), energy (+1.22%) and telecommunications (+0.87%) were the top gainers. Trading volume eased further to 3.82bn (down from 4.06bn on Tuesday) while trading value reduced to RM2.66bn (down from RM3.09bn previously). Market breadth turned neutral as 509 gainers were equal to 509 decliners.

The benchmark formed its second black candle yesterday, breaking down below the pennant consolidation from the 1,559 high. This breakdown invalidates our near-term bullish view, putting the index on course to extend its current sideways consolidation. The 1,525-1,531 level acts as the minor support, followed by the 1,508-1,521 band. On the upside, 1,545 acts as the immediate resistance before KLCI moves to retest the 20-month high at 1,559 and beyond. The longer-term resistance is placed at 1,570-1,583. Our portfolio stays in *risk-on mode* this week.

Gainers: 509
Losers: 509
Unchanged: 485

DOW: 39,512.13 (1.03%)
S&P500: 5,224.62 (0.89%)
NASDAQ: 16,369.41 (1.25%)
FTSE100: 7,737.38 (-0.01%)
DAX: 18,015.13 (0.15%)
HSI: 16,543.07 (0.08%)
STI: 3,177.48 (0.12%)
KLCI: 1,535.79 (-0.59%)
​
USD: 4.7367 (-0.01%)
AUD: 3.0858 (0.12%)
SGD: 3.5227 (-0.11%)
EUR: 5.1342 (0.02%)
GBP: 6.0122 (0.16%)
JPY: 3.1334 (-0.19%)
CNY: 0.6580 (0.00%)
HKD: 0.6055 (0.00%)
​
WTI: 81.27 (-1.76%)
Brent: 85.95 (-1.64%)
GOLD: 2,186.39 (1.13%)
3rd MONTH FCPO: 4,272.00 (1.69%)
Msia 10 yr bond yield: 3.8760 (-0.23%)
US 10 yr bond yield: 4.2728 (-0.46%)
ICE LIBOR USD 3M: 5.5946 (0.01%)
Bitcoin Futures: 66,690 (2.19%)
Source: Bloomberg

Source: /servlets/staticfile/534460.jsp/servlets/staticfile/534460.jspC/servlets/staticfile/534460.jspG/servlets/staticfile/534460.jspS/servlets/staticfile/534460.jsp-/servlets/staticfile/534460.jspC/servlets/staticfile/534460.jspI/servlets/staticfile/534460.jspM/servlets/staticfile/534460.jspB/servlets/staticfile/534460.jsp /servlets/staticfile/534460.jspR/servlets/staticfile/534460.jspe/servlets/staticfile/534460.jsps/servlets/staticfile/534460.jspe/servlets/staticfile/534460.jspa/servlets/staticfile/534460.jspr/servlets/staticfile/534460.jspc/servlets/staticfile/534460.jsph/servlets/staticfile/534460.jsp/servlets/staticfile/534460.jsp - 21 Mar 2024