Asian stock markets finished mixed on Wednesday as bargain hunting activities took place in certain region after a 2-day sell off. The local benchmark FBMKLCI (KLCI) recovered 5.42pts or 0.35% to end the day at 1,540.42. Construction (+1.64%) led the sectors’ rebound yesterday followed by technology (+1.16%) and healthcare (+1.04%). Plantation (-0.56%) was the sole laggard. Trading volume decreased to 3.45bn (down from 4.93bn on Tuesday) while trading value eased to RM2.67bn (down from RM3.72bn previously). Market breadth turned positive as 717 gainers beat 318 decliners.

The benchmark formed a white candle yesterday, underpinned by the 50-day EMA and the support trend line from the 1,518 low. A longer-term sideways consolidation is likely taking place right now as the bulls may have to take some time to try to close the two overhead down gaps. 1,544 level (20-day EMA) being the immediate resistance followed by the 1,559 high and 1,570-1,583 next. Support levels are unchanged at 1,528 and 1,508-1,521 thereafter. Our portfolio stays in *risk-on mode* this week.

Gainers: 717
Losers: 318
Unchanged: 469

DOW: 37,753.31 (-0.12%)
S&P500: 5,022.21 (-0.58%)
NASDAQ: 15,683.37 (-1.15%)
FTSE100: 7,847.99 (0.35%)
DAX: 17,770.02 (0.02%)
HSI: 16,251.84 (0.02%)
STI: 3,154.69 (0.32%)
KLCI: 1,540.42 (0.35%)

USD: 4.7930 (-0.06%)
AUD: 3.0798 (0.06%)
SGD: 3.5187 (0.12%)
EUR: 5.1000 (0.05%)
GBP: 5.9757 (0.07%)
JPY: 3.1069 (0.23%)
CNY: 0.6622 (-0.05%)
HKD: 0.6121 (-0.03%)

WTI: 82.69 (-3.13%)
Brent: 87.29 (-3.03%)
GOLD: 2,361.02 (-0.92%)
3rd MONTH FCPO: 4,012.00 (-1.52%)
Msia 10 yr bond yield: 3.9790 (0.63%)
US 10 yr bond yield: 4.5873 (-1.72%)
ICE LIBOR USD 3M: 5.5885 (0.18%)
Bitcoin Futures: 61,845 (-2.89%)
Source: Bloomberg

Source: /servlets/staticfile/536962.jsp/servlets/staticfile/536962.jspC/servlets/staticfile/536962.jspG/servlets/staticfile/536962.jspS/servlets/staticfile/536962.jsp-/servlets/staticfile/536962.jspC/servlets/staticfile/536962.jspI/servlets/staticfile/536962.jspM/servlets/staticfile/536962.jspB/servlets/staticfile/536962.jsp /servlets/staticfile/536962.jspR/servlets/staticfile/536962.jspe/servlets/staticfile/536962.jsps/servlets/staticfile/536962.jspe/servlets/staticfile/536962.jspa/servlets/staticfile/536962.jspr/servlets/staticfile/536962.jspc/servlets/staticfile/536962.jsph/servlets/staticfile/536962.jsp/servlets/staticfile/536962.jsp - 18 Apr 2024