Asian stock markets started the week on a positive note as the regional sentiment was lifted by China’s new measures to expand its Stock Connect. The local benchmark FBMKLCI (KLCI) rose 12.02pts or 0.78% to end the day at 1,559.59. All sectors finished higher except for technology (-0.14%). The top gainers for the day were property (+1.52%), utilities (+0.89%) and financial services (+0.88%). Trading volume fell to 3.49bn (down from 4.71bn on Friday) while trading value dropped to RM2.53bn (down from RM3.40bn previously). Market breadth turned positive as 764 gainers outweighed 331 decliners.

The benchmark bounced off the 20-day EMA and tested the 1,559 high yesterday once again. Is the 2-month long sideways consolidation going to end soon? The next resistances are seen at the 1,570-1,583 range should the follow-through buying continues. On the downside, the rising 50-day EMA (1,532 currently) provides near-term support. Longer-term support levels are unchanged at 1,528 and 1,518 thereafter. Our portfolio stays in *risk-on mode* this week.

Gainers: 764
Losers: 331
Unchanged: 420

DOW: 38,239.98 (0.67%)
S&P500: 5,010.60 (0.87%)
NASDAQ: 15,451.31 (1.11%)
FTSE100: 8,023.87 (1.62%)
DAX: 17,860.80 (0.70%)
HSI: 16,551.69 (1.77%)
STI: 3,225.17 (1.53%)
KLCI: 1,559.59 (0.78%)
​
USD: 4.7768 (-0.13%)
AUD: 3.0736 (-0.07%)
SGD: 3.5055 (-0.22%)
EUR: 5.0880 (-0.21%)
GBP: 5.8971 (-1.00%)
JPY: 3.0860 (-0.26%)
CNY: 0.6594 (-0.19%)
HKD: 0.6097 (-0.15%)
​
WTI: 81.90 (-0.39%)
Brent: 87.00 (-0.33%)
GOLD: 2,327.30 (-2.70%)
3rd MONTH FCPO: 3,944.00 (0.46%)
Msia 10 yr bond yield: 3.9630 (0.00%)
US 10 yr bond yield: 4.6085 (-0.26%)
ICE LIBOR USD 3M: 5.5880 (0.03%)
Bitcoin Futures: 67,495 (3.75%)
Source: Bloomberg

Source: /servlets/staticfile/537404.jsp/servlets/staticfile/537404.jspC/servlets/staticfile/537404.jspG/servlets/staticfile/537404.jspS/servlets/staticfile/537404.jsp-/servlets/staticfile/537404.jspC/servlets/staticfile/537404.jspI/servlets/staticfile/537404.jspM/servlets/staticfile/537404.jspB/servlets/staticfile/537404.jsp /servlets/staticfile/537404.jspR/servlets/staticfile/537404.jspe/servlets/staticfile/537404.jsps/servlets/staticfile/537404.jspe/servlets/staticfile/537404.jspa/servlets/staticfile/537404.jspr/servlets/staticfile/537404.jspc/servlets/staticfile/537404.jsph/servlets/staticfile/537404.jsp/servlets/staticfile/537404.jsp - 23 Apr 2024