Most Asian stock markets climbed for its third day in a row on rising optimism about the tech sector and a less hawkish FED. The local benchmark FBMKLCI (KLCI) added 9.84pts or 0.63% to end the day at 1,571.48. All sectors saw gains yesterday, led by FBMACE (+2.19%), property (1.78%), healthcare (+1.73%) and technology (+1.55%). Trading volume increased to 4.25bn (up from 3.73bn on Tuesday) while trading value improved to RM3.03bn (up from RM2.79bn previously). Market breadth stayed positive as 777 gainers beat 327 decliners.

The benchmark pushed and closed at a new 23-month high yesterday as the bulls continued on their charge. The KLCI may attempt to continue to work its way further towards the top end of our targeted range of 1,570-1,583 in the coming days. On the downside, expect some support to come in near the 1,552-1,559 levels followed by the rising 50-day EMA (1,538 currently). Our portfolio stays in *risk-on mode* this week.

Gainers: 777
Losers: 327
Unchanged: 480

DOW: 38,460.92 (-0.11%)
S&P500: 5,071.63 (0.02%)
NASDAQ: 15,712.75 (0.10%)
FTSE100: 8,040.38 (-0.06%)
DAX: 18,088.70 (-0.27%)
HSI: 17,201.27 (2.21%)
STI: 3,293.13 (0.62%)
KLCI: 1,571.48 (0.63%)
​
USD: 4.7773 (-0.06%)
AUD: 3.1044 (0.75%)
SGD: 3.5097 (0.05%)
EUR: 5.1048 (0.18%)
GBP: 5.9374 (0.49%)
JPY: 3.0769 (-0.36%)
CNY: 0.6593 (-0.05%)
HKD: 0.6100 (0.00%)
​
WTI: 82.81 (-0.66%)
Brent: 88.02 (-0.45%)
GOLD: 2,316.17 (-0.25%)
3rd MONTH FCPO: 3,942.00 (-0.73%)
Msia 10 yr bond yield: 3.9700 (0.35%)
US 10 yr bond yield: 4.6417 (0.90%)
ICE LIBOR USD 3M: 5.5852 (0.01%)
Bitcoin Futures: 64,555 (-3.87%)
Source: Bloomberg

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