Asian stock markets ended mixed yesterday with Hong Kong’s HSI (+0.80%) leading the gains. The local benchmark FBMKLCI (KLCI) nudged 2.24pts or 0.14% higher to end the day at 1,602.91. Most sectors closed positive except for energy (-0.74%), utilities (-0.73%), telecommunication (-0.27%) and REIT (-0.02%). Transportation (+1.89%), technology (+1.64%) and property (+1.50%) were the largest gainers for the day. Trading volume eased to 4.53bn (down from 4.62bn on Friday) while trading value decreased to RM3.01bn (down from RM3.27bn previously). Market breadth stayed positive for a third day as 642 gainers beat 494 decliners.

The benchmark continued to consolidate, chopping sideways for most of yesterday’s session. There could be a tad more consolidation ahead but we expect the KLCI to find its footing near the 1,590-1,601 levels. Once this consolidation is completed, the benchmark is likely to continue on its uptrend journey. The next resistance is seen at 1,620-1,625 levels although there is a minor resistance at 1,610. Following support levels are at 1,582 and 1,565 Our portfolio stays in *risk-on mode* this week.

Gainers: 642
Losers: 494
Unchanged: 505

DOW: 39,431.51 (-0.21%)
S&P500: 5,221.42 (-0.02%)
NASDAQ: 16,388.24 (0.29%)
FTSE100: 8,414.99 (-0.22%)
DAX: 18,742.22 (-0.16%)
HSI: 19,115.06 (0.80%)
STI: 3,303.66 (0.39%)
KLCI: 1,602.91 (0.14%)
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USD: 4.7295 (-0.22%)
AUD: 3.1255 (-0.26%)
SGD: 3.4939 (-0.26%)
EUR: 5.0998 (-0.19%)
GBP: 5.9254 (-0.22%)
JPY: 3.0274 (-0.52%)
CNY: 0.6539 (-0.30%)
HKD: 0.6054 (-0.20%)
​
WTI: 79.12 (1.10%)
Brent: 83.36 (0.69%)
GOLD: 2,336.32 (-1.02%)
3rd MONTH FCPO: 3,868.00 (1.55%)
Msia 10 yr bond yield: 3.9160 (0.23%)
US 10 yr bond yield: 4.4865 (-0.22%)
ICE LIBOR USD 3M: 5.5836 (-0.03%)
Bitcoin Futures: 63,970 (4.22%)
Source: Bloomberg

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