Most Asian stock markets finished higher on Tuesday ahead of the US inflation data. The local benchmark FBMKLCI (KLCI) inched up 2.97pts or 0.19% to end the day at 1,605.88. The broader market was largely positive with the largest gains coming from utilities (+1.32%), energy (+0.82%) and construction (+0.65%). Top laggards were seen in healthcare (-0.70%), telecommunications (-0.49%) and financial services (-0.14%). Trading volume improved to 4.70bn (up from 4.53bn on Monday) while trading value climbed to RM3.21bn (up from RM3.01bn previously). Market breadth stayed positive for four day straight as 600 gainers beat 516 decliners.

The benchmark continued its sideways chop albeit a stronger close yesterday with a white candle. 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: 600
Losers: 516
Unchanged: 529

DOW: 39,558.11 (0.32%)
S&P500: 5,246.68 (0.48%)
NASDAQ: 16,511.18 (0.75%)
FTSE100: 8,428.13 (0.16%)
DAX: 18,716.42 (-0.14%)
HSI: 19,073.71 (-0.22%)
STI: 3,313.35 (0.29%)
KLCI: 1,605.88 (0.19%)
​
USD: 4.7175 (-0.25%)
AUD: 3.1187 (-0.22%)
SGD: 3.4861 (-0.22%)
EUR: 5.0914 (-0.16%)
GBP: 5.9174 (-0.14%)
JPY: 3.0161 (-0.37%)
CNY: 0.6522 (-0.26%)
HKD: 0.6039 (-0.25%)
​
WTI: 78.02 (-1.39%)
Brent: 82.79 (-0.68%)
GOLD: 2,358.12 (0.93%)
3rd MONTH FCPO: 3,815.00 (-1.37%)
Msia 10 yr bond yield: 3.9100 (-0.15%)
US 10 yr bond yield: 4.4394 (-1.05%)
ICE LIBOR USD 3M: 5.5840 (0.01%)
Bitcoin Futures: 62,325 (-2.57%)
Source: Bloomberg

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