Asian stocks market finished mixed on Thursday after US Fed avoided offering a timeline for rate cuts. The local benchmark FBMKLCI (KLCI) rebounded 4.33pts or 0.27% to end the day at 1,580.30. Sectors wise, REIT (+0.56%) was the best performing index, followed by consumer products (+0.55%) and industrial products (+0.47%). The top laggards were energy (-1.20%), telecommunications (-0.85%) and technology (-0.60%). Trading volume decreased to 3.81bn (down from 4.18bn on Tuesday) while trading value fell to RM3.06bn (down from RM3.75bn previously). Market breadth turned negative as 530 gainers lost out to 620 decliners.

The benchmark recovered from previous loss, supported by buying interest in consumer heavyweights. The 1,570-1,583 range remains as the immediate resistance until the index can successfully close above the said levels. The 1,600 psychological level is the next resistance. Any pullback should find support near the 1,552-1,559 levels to keep the bullish momentum intact. The rising 50-day EMA (1,545 currently) is the following support. Our portfolio stays in *risk-on mode* this week.

Gainers: 530
Losers: 620
Unchanged: 464

DOW: 38,225.66 (0.85%)
S&P500: 5,064.20 (0.91%)
NASDAQ: 15,840.96 (1.51%)
FTSE100: 8,172.15 (0.63%)
DAX: 17,896.50 (-0.20%)
HSI: 18,207.13 (2.50%)
STI: 3,296.89 (0.13%)
KLCI: 1,580.30 (0.27%)
​
USD: 4.7545 (-0.36%)
AUD: 3.1054 (0.43%)
SGD: 3.4980 (0.07%)
EUR: 5.0890 (0.04%)
GBP: 5.9501 (-0.11%)
JPY: 3.0976 (0.75%)
CNY: 0.6566 (-0.34%)
HKD: 0.6085 (-0.25%)
​
WTI: 78.95 (-0.06%)
Brent: 83.67 (0.28%)
GOLD: 2,303.83 (-0.68%)
3rd MONTH FCPO: 3,846.00 (0.73%)
Msia 10 yr bond yield: 3.9490 (-1.05%)
US 10 yr bond yield: 4.5811 (-1.02%)
ICE LIBOR USD 3M: 5.5843 (0.08%)
Bitcoin Futures: 60,245 (-14.11%)
Source: Bloomberg

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