Asian stock markets finished higher on Thursday led by technology stocks in the region on hopes for interest-rate cuts. The local benchmark FBMKLCI (KLCI) rebounded 7.88pts or 0.49% to end the day at 1,611.11. Profit-taking were seen in the healthcare (-3.59%) and transportation (-0.23%) sectors. The broader market was buoyed by technology (+1.81%), consumer products (+0.88%) and construction (+0.80%). Trading volume dipped to 6.05bn (down from 6.20bn on Wednesday) while trading value fell to RM4.35bn (down from RM4.67bn previously). Market breadth turned positive as 720 gainers outperformed 492 decliners.

The benchmark closed at its 26-month high (on a close basis) with a white bullish candle yesterday. The bulls are likely to resume on its journey higher after a week-long base-building phase. We expect an expansion in volatility in the coming days with the next resistance is seen at 1,620-1,625 levels. On the downside, KLCI should find its footing near the 1,590-1,601 levels if further weakness sets in. Following support levels are at 1,582 and 1,565. Our portfolio stays in risk-on mode this week.

Gainers: 720
Losers: 492
Unchanged: 456

DOW: 39,869.38 (-0.10%)
S&P500: 5,297.10 (-0.21%)
NASDAQ: 16,698.32 (-0.26%)
FTSE100: 8,438.65 (-0.08%)
DAX: 18,738.81 (-0.69%)
HSI: 19,376.53 (1.59%)
STI: 3,304.99 (0.47%)
KLCI: 1,611.11 (0.49%)
​
USD: 4.6830 (-0.50%)
AUD: 3.1277 (0.00%)
SGD: 3.4830 (-0.16%)
EUR: 5.0907 (-0.10%)
GBP: 5.9327 (-0.14%)
JPY: 3.0138 (-0.98%)
CNY: 0.6485 (-0.46%)
HKD: 0.6003 (-0.38%)
​
WTI: 79.23 (0.76%)
Brent: 83.27 (0.63%)
GOLD: 2,376.86 (-0.38%)
3rd MONTH FCPO: 3,804.00 (-1.32%)
Msia 10 yr bond yield: 3.8420 (-1.00%)
US 10 yr bond yield: 4.3750 (0.81%)
ICE LIBOR USD 3M: 5.5909 (0.05%)
Bitcoin Futures: 66,040 (-1.25%)
Source: Bloomberg

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