Asian stock markets finished in negative territory on Monday amid the current tension in the Middle East. However, Shanghai’s SECI (+1.26%) was the sole gainer and rose on Beijing’s renewed regulatory support. The local benchmark FBMKLCI (KLCI) fell 8.51pts or 0.55% to end the day at 1,542.53. All sectors dipped in the red with the largest losses coming from property (-2.48%), healthcare (-1.84%) and telecommunications (-1.68%). Trading volume increased to 4.28bn (up from 3.88bn on Friday) while trading value improved to RM3.25bn (up from RM3.00bn previously). Market breadth turned negative as 230 gainers were thumped by 993 decliners.

The benchmark gapped down and closed below the 20-day EMA yesterday with its third consecutive black candle. IF the current uptrend is to continue, the KLCI ought to rebound in the next couple of days. The Advance/Decline ratio has reached a level where rebounds tend to take place. Immediate support is placed at 1,537. A break below the said support 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. On the upside, 1,559 acts as the overhead resistance followed by 1,570-1,583 next. Our portfolio stays in *risk-on mode* this week.

Gainers: 230
Losers: 993
Unchanged: 374

DOW: 37,735.11 (-0.65%)
S&P500: 5,061.82 (-1.20%)
NASDAQ: 15,885.02 (-1.79%)
FTSE100: 7,965.53 (-0.38%)
DAX: 18,026.58 (0.54%)
HSI: 16,600.46 (-0.72%)
STI: 3,183.61 (-1.04%)
KLCI: 1,542.53 (-0.55%)
​
USD: 4.7800 (0.20%)
AUD: 3.0986 (-0.16%)
SGD: 3.5133 (0.04%)
EUR: 5.0929 (0.14%)
GBP: 5.9681 (0.10%)
JPY: 3.0995 (-0.42%)
CNY: 0.6604 (0.19%)
HKD: 0.6106 (0.31%)
​
WTI: 85.41 (-0.29%)
Brent: 90.10 (-0.39%)
GOLD: 2,383.34 (1.66%)
3rd MONTH FCPO: 4,204.00 (-1.82%)
Msia 10 yr bond yield: 3.9150 (0.03%)
US 10 yr bond yield: 4.6014 (1.76%)
ICE LIBOR USD 3M: 5.5893 (-0.02%)
Bitcoin Futures: 63,895 (-5.99%)
Source: Bloomberg

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