Asian stock markets finished the week on a mixed note against the rebound in the US dollar. The local benchmark FBMKLCI (KLCI) inched up 0.98pts or 0.06% to end the day at 1,542.39. Week-on-week, the index dropped 10.44pts or 0.67%. Sector-wise, property (+1.25%) led the top gainer for the day followed by technology (+0.65%) and construction (+0.34%). The underperforming sectors were plantation (-0.22%), industrial products (-0.16%) and energy (-0.03%). Trading volume increased to 5.09bn (up from 4.02bn on Thursday) whereas trading value fell to RM2.69bn (down from RM2.94bn previously). Market breadth turned negative as 538 gainers lost marginally to 544 decliners.

The benchmark formed a doji-like candle last Friday and continued to test the resistance line from the 1,518 low. The current sideways consolidation is likely to extend for a while longer. Once this consolidation ends, we expect the KLCI to ascend further. 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: 538
Losers: 544
Unchanged: 475

DOW: 39,475.90 (-0.77%)
S&P500: 5,234.18 (-0.14%)
NASDAQ: 16,428.82 (0.16%)
FTSE100: 7,930.92 (0.61%)
DAX: 18,205.94 (0.15%)
HSI: 16,499.47 (-2.16%)
STI: 3,217.97 (-0.07%)
KLCI: 1,542.39 (0.06%)
​
USD: 4.7365 (0.45%)
AUD: 3.0852 (-1.01%)
SGD: 3.5118 (-0.28%)
EUR: 5.1230 (-0.45%)
GBP: 5.9621 (-1.00%)
JPY: 3.1277 (-0.56%)
CNY: 0.6552 (0.03%)
HKD: 0.6057 (0.46%)
​
WTI: 80.63 (-0.54%)
Brent: 85.43 (-0.41%)
GOLD: 2,165.44 (-0.73%)
3rd MONTH FCPO: 4,188.00 (-1.44%)
Msia 10 yr bond yield: 3.8500 (-0.08%)
US 10 yr bond yield: 4.1981 (-1.61%)
ICE LIBOR USD 3M: 5.5816 (-0.15%)
Bitcoin Futures: 64,715 (-2.14%)
Source: Bloomberg

Source: /servlets/staticfile/534731.jsp/servlets/staticfile/534731.jspC/servlets/staticfile/534731.jspG/servlets/staticfile/534731.jspS/servlets/staticfile/534731.jsp-/servlets/staticfile/534731.jspC/servlets/staticfile/534731.jspI/servlets/staticfile/534731.jspM/servlets/staticfile/534731.jspB/servlets/staticfile/534731.jsp /servlets/staticfile/534731.jspR/servlets/staticfile/534731.jspe/servlets/staticfile/534731.jsps/servlets/staticfile/534731.jspe/servlets/staticfile/534731.jspa/servlets/staticfile/534731.jspr/servlets/staticfile/534731.jspc/servlets/staticfile/534731.jsph/servlets/staticfile/534731.jsp/servlets/staticfile/534731.jsp - 25 Mar 2024