Most Asian stock markets finished higher on Friday ahead of the release of the US jobs data. The local benchmark FBMKLCI (KLCI) rose 9.29pts or 0.59% to end the day at 1,589.59. Week-on-week, the index surged 14.43pts or 0.92%. The broader market was largely positive for the day with the largest gains coming utilities (+1.53%), technology (+1.24%) and healthcare (+1.19%). On the flip note, plantation (-0.47%), REIT (-0.39%) and property (-0.10%) were the laggards. Trading volume increased to 3.91bn (up from 3.81bn on Thursday) while trading value climbed to RM3.15bn (up from RM3.06bn previously). Market breadth turned positive as 644 gainers outweighed 417 decliners.

The benchmark gapped up and closed at its 2-year high last Friday as buying interest continued to pick up. The index may have room to propel further with the 1,600 psychological level acting as the next resistance. Furthermore, the KLCI has yet to reach its overbought levels, implying that the overall market is not overheated. Near-term support is seen at the 1,565 level, followed by the 1,552-1,559 levels. Our portfolio stays in *risk-on mode* this week.

Gainers: 644
Losers: 417
Unchanged: 496

DOW: 38,675.68 (1.18%)
S&P500: 5,127.79 (1.26%)
NASDAQ: 16,156.33 (1.99%)
FTSE100: 8,231.49 (0.51%)
DAX: 18,001.60 (0.59%)
HSI: 18,475.92 (1.48%)
STI: 3,292.93 (-0.12%)
KLCI: 1,589.59 (0.59%)
​
USD: 4.7385 (-0.34%)
AUD: 3.1189 (0.43%)
SGD: 3.5041 (0.17%)
EUR: 5.0909 (0.04%)
GBP: 5.9514 (0.02%)
JPY: 3.0972 (-0.01%)
CNY: 0.6544 (-0.33%)
HKD: 0.6067 (-0.30%)
​
WTI: 78.11 (-1.06%)
Brent: 82.96 (-0.85%)
GOLD: 2,301.74 (-0.09%)
3rd MONTH FCPO: 3,844.00 (-0.05%)
Msia 10 yr bond yield: 3.9370 (-0.30%)
US 10 yr bond yield: 4.5077 (-1.60%)
ICE LIBOR USD 3M: 5.5975 (0.06%)
Bitcoin Futures: 63,095 (4.73%)
Source: Bloomberg

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