Most Asian stock markets finished lower on Friday as concerns raised over the Middle East tensions and hawkish Fed. The local benchmark FBMKLCI (KLCI) inched up 2.81pts or 0.18% to end the day at 1,547.57. Week-on-week, however, the index ended 3.47pts or 0.22% lower. The broader market took a hit with the largest losses coming from technology (-1.74%), construction (-1.29%) and property (-1.22%). On a positive note, energy (+1.81%), plantation (+0.29%) and industrial products (+0.02%) were the top gainers. Trading volume increased to 4.71bn (up from 3.84bn on Thursday) while trading value improved to RM3.40bn (up from RM2.67bn previously). Market breadth turned negative as 289 gainers lost out to 918 decliners.

The benchmark gapped up and filled last Monday’s gap on Friday. However, the bulls pared its intraday gains and closed barely above the 20-day EMA. We maintain our view that a longer-term sideways consolidation is likely taking place right now with the resistances are seen at the 1,559 high and 1,570-1,583 next. On the downside, a close below the 50-day EMA may warn of further weakness ahead. Support levels are unchanged at 1,528 and 1,508-1,521 thereafter. Our portfolio stays in *risk-on mode* this week.

Gainers: 289
Losers: 918
Unchanged: 416

DOW: 37,986.40 (0.56%)
S&P500: 4,967.23 (-0.88%)
NASDAQ: 15,282.01 (-2.05%)
FTSE100: 7,895.85 (0.24%)
DAX: 17,737.36 (-0.56%)
HSI: 16,224.14 (-0.99%)
STI: 3,176.51 (-0.35%)
KLCI: 1,547.57 (0.18%)
​
USD: 4.7832 (-0.05%)
AUD: 3.0716 (-0.39%)
SGD: 3.5132 (-0.16%)
EUR: 5.0985 (-0.15%)
GBP: 5.9564 (-0.21%)
JPY: 3.0940 (-0.03%)
CNY: 0.6607 (-0.06%)
HKD: 0.6106 (-0.08%)
​
WTI: 83.14 (0.50%)
Brent: 87.29 (0.21%)
GOLD: 2,391.93 (0.54%)
3rd MONTH FCPO: 3,926.00 (-1.46%)
Msia 10 yr bond yield: 3.9630 (0.18%)
US 10 yr bond yield: 4.6207 (-0.26%)
ICE LIBOR USD 3M: 5.5862 (-0.04%)
Bitcoin Futures: 65,055 (1.29%)
Source: Bloomberg

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