Most Asian stock markets finished lower on Monday with Japan’s Nikkei 225 (-1.16%) leading the losses. The local benchmark FBMKLCI (KLCI) gave up 4.85pts or 0.31% to end the day at 1,537.54. It was a mixed day for the sectors with the largest losses coming from healthcare (-0.40%), REIT (-0.39%) and telecommunications (-0.34%). The top gainers were transportation (+1.63%), construction (+0.61%) and energy (+0.54%). Trading volume tapered off to 3.76bn (down from 5.09bn on Friday) while trading value declined slightly to RM2.56bn (down from RM2.69bn previously). Market breadth stayed negative as 476 gainers lost out to 587 decliners.

The benchmark closed below the 20-day EMA again with a black candle yesterday. Prices appear to be fluctuating between the said EMA and the uptrend 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: 476
Losers: 587
Unchanged: 456

DOW: 39,313.64 (-0.41%)
S&P500: 5,218.19 (-0.31%)
NASDAQ: 16,384.47 (-0.27%)
FTSE100: 7,917.57 (-0.17%)
DAX: 18,261.31 (0.30%)
HSI: 16,473.64 (-0.16%)
STI: 3,198.10 (-0.62%)
KLCI: 1,537.54 (-0.31%)
​
USD: 4.7238 (-0.27%)
AUD: 3.0835 (-0.06%)
SGD: 3.5083 (-0.10%)
EUR: 5.1101 (-0.25%)
GBP: 5.9588 (-0.06%)
JPY: 3.1201 (-0.24%)
CNY: 0.6551 (-0.01%)
HKD: 0.6040 (-0.28%)
​
WTI: 81.95 (1.64%)
Brent: 86.75 (1.55%)
GOLD: 2,171.83 (0.30%)
3rd MONTH FCPO: 4,274.00 (2.05%)
Msia 10 yr bond yield: 3.8450 (-0.13%)
US 10 yr bond yield: 4.2454 (1.13%)
ICE LIBOR USD 3M: 5.5741 (-0.13%)
Bitcoin Futures: 71,205 (10.03%)
Source: Bloomberg

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