Most Asian stock markets rebounded on Friday. Hong Kong’s HSI (+2.30%) led the gains on local authority’s support for the capital markets. The local benchmark FBMKLCI (KLCI) inched lower by 0.55pts or 0.03% to end the day at 1,600.67. Week-on-week, the index rose 11.08pts or 0.70%. Healthcare (+1.71%) was the best performing sector for the day, followed by telecommunications (+0.70%) and transportation (+0.46%). Top laggards were seen in utilities (-0.60%), plantation (-0.51%) and energy (-0.35%). Trading volume eased to 4.62bn (down from 4.65bn on Thursday) but trading value increased to RM3.27bn (up from RM3.14bn previously). Market breadth stayed positive as 601 gainers outweighed 538 losers.

The benchmark continued to consolidate its previous gains from the rally to its new 2-year high recently. Expect further profit-taking activities on the horizon as the bulls try to find their footing near the ‘peak’. Support is likely to be found within the 1,582-1,591 levels if a pullback takes place in the near term. The following support is at 1,565. On the upside, we do not expect the index to take out the strong resistance at 1,620-1,625 anytime soon, at least not without a slightly deeper consolidation. Our portfolio stays in *risk-on mode* this week.

Gainers: 601
Losers: 538
Unchanged: 494

DOW: 39,512.84 (0.32%)
S&P500: 5,222.68 (0.16%)
NASDAQ: 16,340.87 (-0.03%)
FTSE100: 8,433.76 (0.63%)
DAX: 18,772.85 (0.46%)
HSI: 18,963.68 (2.30%)
STI: 3,290.70 (0.76%)
KLCI: 1,600.67 (-0.03%)

USD: 4.7397 (-0.03%)
AUD: 3.1336 (0.53%)
SGD: 3.5030 (0.22%)
EUR: 5.1094 (0.43%)
GBP: 5.9387 (0.32%)
JPY: 3.0431 (-0.26%)
CNY: 0.6559 (-0.10%)
HKD: 0.6066 (-0.02%)

WTI: 78.26 (-1.26%)
Brent: 82.79 (-1.30%)
GOLD: 2,360.50 (0.60%)
3rd MONTH FCPO: 3,809.00 (-0.57%)
Msia 10 yr bond yield: 3.9070 (-0.41%)
US 10 yr bond yield: 4.4963 (0.97%)
ICE LIBOR USD 3M: 5.5851 (-0.04%)
Bitcoin Futures: 61,380 (-3.44%)
Source: Bloomberg

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