Most Asian stock markets finished lower on Thursday post higher-than-expected US inflation data. The local benchmark FBMKLCI (KLCI) declined 6.47pts or 0.41% to end Tuesday at 1,553.51. Top laggards for the day were healthcare (-0.59%), construction (-0.52%) and utilities (-0.44%). On a positive note, energy (+0.98%), transportation (+0.28%) and technology (+0.23%) were the top gainers. Trading volume fell to 3.46bn (down from 3.97bn on Monday) while trading value eased to RM2.06bn (down from RM2.33bn previously). Market breadth turned negative as 466 gainers lost out to 496 decliners.

The benchmark gave up its earlier gains as profit-taking activities kicked in ahead of the Raya holidays. The bulls took a breather after its third consecutive day of gains, retreating from the 23-month high with a black engulfing candle. Further weakness is possible in the immediate term but as long as prices stay above 1,537, we remain positive in the short-term. The next resistance remains at 1,570-1,583. A break below the immediate support at 1,537 may warn that a deeper pullback or a longer-term sideways consolidation is taking place. Other support levels are at 1,528 and 1,508-1,521 thereafter. Our portfolio stays in *risk-on mode* this week.

Gainers: 466
Losers: 496
Unchanged: 540

DOW: 38,459.08 (-0.01%)
S&P500: 5,199.06 (0.74%)
NASDAQ: 16,442.20 (1.68%)
FTSE100: 7,923.80 (-0.47%)
DAX: 17,954.48 (-0.79%)
HSI: 17,095.03 (-0.26%)
STI: 3,227.61 (-0.31%)
KLCI: 1,553.51 (CLOSED)
​
USD: 4.7478 (0.00%)
AUD: 3.0963 (-1.60%)
SGD: 3.5319 (0.00%)
EUR: 5.1545 (0.00%)
GBP: 6.0181 (0.00%)
JPY: 3.0986 (-0.09%)
CNY: 0.6565 (0.00%)
HKD: 0.6057 (-0.10%)
​
WTI: 85.02 (-1.38%)
Brent: 89.74 (-0.82%)
GOLD: 2,372.52 (1.65%)
3rd MONTH FCPO: 4,318.00 (0.00%)
Msia 10 yr bond yield: 3.8840 (0.00%)
US 10 yr bond yield: 4.5865 (0.95%)
ICE LIBOR USD 3M: 5.5605 (0.00%)
Bitcoin Futures: 72,250 (-0.34%)
Source: Bloomberg

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