Asian stock markets finished higher on Thursday led by Korea’s KOSPI (+1.95%). The local benchmark FBMKLCI (KLCI) rose 4.34pts or 0.28% to end the day at 1,544.76. Most sectors rallied with the largest gains coming from utilities (+1.91%), healthcare (+0.78%) and REIT (+0.66%). The top laggards were energy (-0.75%), telecommunications (-0.46%) and property (-0.21%). Trading volume climbed to 3.84bn (up from 3.45bn on Wednesday) but trading value dropped to RM2.62bn (down from RM2.67bn previously). Market breadth stayed positive as 570 gainers outperformed 469 decliners.

The benchmark continued its rebound and closed at the 20-day EMA with another white candle yesterday. Tuesday’s gap was filled, and will Monday’s gap be next? A longer-term sideways consolidation is likely taking place right now until the bulls successfully close the overhead down gap. However, a close below the 50-day EMA may warn of further weakness ahead. Resistances are seen at 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. IF the KLCI closes below 1,541 at the end of today, our portfolio will revert to risk-off next week.

Gainers: 570
Losers: 469
Unchanged: 493

DOW: 37,775.38 (0.06%)
S&P500: 5,011.12 (-0.22%)
NASDAQ: 15,601.50 (-0.52%)
FTSE100: 7,877.05 (0.37%)
DAX: 17,837.40 (0.38%)
HSI: 16,385.87 (0.82%)
STI: 3,187.66 (1.05%)
KLCI: 1,544.76 (0.28%)
​
USD: 4.7855 (-0.16%)
AUD: 3.0835 (0.12%)
SGD: 3.5189 (0.01%)
EUR: 5.1061 (0.12%)
GBP: 5.9687 (-0.12%)
JPY: 3.0949 (-0.39%)
CNY: 0.6611 (-0.16%)
HKD: 0.6111 (-0.16%)
​
WTI: 82.73 (0.05%)
Brent: 87.11 (-0.21%)
GOLD: 2,379.79 (0.79%)
3rd MONTH FCPO: 3,984.00 (-0.70%)
Msia 10 yr bond yield: 3.9560 (-0.58%)
US 10 yr bond yield: 4.6326 (0.99%)
ICE LIBOR USD 3M: 5.5882 (-0.01%)
Bitcoin Futures: 64,225 (3.85%)
Source: Bloomberg

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