Most Asian stock markets finished lower on Friday with Hong Kong’s HSI (-2.18%) leading the losses. The local benchmark FBMKLCI (KLCI) eased 2.47pts or 0.16% to end the day at 1,551.04. Week-on-week, the index fell 4.21pts or 0.27%. Sectors-wise, utilities (-0.42%), telecommunications (-0.22%) and energy (-0.19%) were the top laggards for the day. The top gainers were property (+1.74%), technology (+0.54%) and industrial products (+0.46%). Trading volume climbed to 3.88bn (up from 3.46bn on Tuesday) while trading value improved to RM3.00bn (up from RM2.06bn previously). Market breadth turned positive as 580 gainers beat 515 decliners.

The benchmark formed its second black candle last Friday as selling pressure weighed on the plantation heavyweights. 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: 580
Losers: 515
Unchanged: 470

DOW: 37,983.24 (-1.24%)
S&P500: 5,123.41 (-1.46%)
NASDAQ: 16,175.09 (-1.62%)
FTSE100: 7,995.58 (0.91%)
DAX: 17,930.32 (-0.13%)
HSI: 16,721.69 (-2.18%)
STI: 3,216.91 (-0.33%)
KLCI: 1,551.04 (-0.16%)
​
USD: 4.7705 (0.48%)
AUD: 3.1035 (0.23%)
SGD: 3.5118 (-0.57%)
EUR: 5.0856 (-1.34%)
GBP: 5.9624 (-0.93%)
JPY: 3.1126 (0.45%)
CNY: 0.6591 (0.40%)
HKD: 0.6087 (0.50%)
​
WTI: 85.66 (0.75%)
Brent: 90.45 (0.79%)
GOLD: 2,344.37 (-1.19%)
3rd MONTH FCPO: 4,282.00 (-0.83%)
Msia 10 yr bond yield: 3.9140 (0.77%)
US 10 yr bond yield: 4.5216 (-1.42%)
ICE LIBOR USD 3M: 5.5902 (0.53%)
Bitcoin Futures: 67,965 (-5.93%)
Source: Bloomberg

*15th Apr 2024*

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