Asian stock markets finished mixed on Friday, dragged by the regional chipmakers. The local benchmark FBMKLCI (KLCI) climbed 5.51pts or 0.34% to end the day at 1,616.62. Week-on-week, the index climbed 15.95pts or 1%. Technology (+2.54%) continued its winning streak, followed by utilities (+1.45%) and property (+0.92%). The only laggards for the day were plantation (-0.30%), REIT (-0.22%) and energy (-0.09%). Trading volume increased to 7.23bn (up from 6.05bn on Thursday) while trading value improved to RM4.54bn (up from RM4.35bn previously). Market breadth turned positive as 846 gainers beat 374 decliners.

The benchmark gapped up last Friday and closed at its multi-year high (since 2021 on a close basis). The uptrend journey is intact with the bulls remaining in a position of strength. Keep an eye on the next resistance at 1,620-1,625 levels. Subsequent targets are at 1,657-1,660 range if the 1,625 resistance is taken out. 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: 846
Losers: 374
Unchanged: 497

DOW: 40,003.59 (0.34%)
S&P500: 5,303.27 (0.12%)
NASDAQ: 16,685.97 (-0.07%)
FTSE100: 8,420.26 (-0.22%)
DAX: 18,704.42 (-0.18%)
HSI: 19,553.61 (0.91%)
STI: 3,313.48 (0.26%)
KLCI: 1,616.62 (0.34%)
​
USD: 4.6877 (0.10%)
AUD: 3.1188 (-0.28%)
SGD: 3.4797 (-0.09%)
EUR: 5.0836 (-0.14%)
GBP: 5.9326 (0.00%)
JPY: 3.0122 (-0.05%)
CNY: 0.6486 (0.02%)
HKD: 0.6009 (0.10%)
​
WTI: 80.06 (1.05%)
Brent: 83.98 (0.85%)
GOLD: 2,415.22 (1.61%)
3rd MONTH FCPO: 3,892.00 (2.31%)
Msia 10 yr bond yield: 3.8620 (0.52%)
US 10 yr bond yield: 4.4198 (1.02%)
ICE LIBOR USD 3M: 5.5874 (-0.06%)
Bitcoin Futures: 67,915 (2.84%)
Source: Bloomberg

Source: /servlets/staticfile/541801.jsp/servlets/staticfile/541801.jspC/servlets/staticfile/541801.jspG/servlets/staticfile/541801.jspS/servlets/staticfile/541801.jsp-/servlets/staticfile/541801.jspC/servlets/staticfile/541801.jspI/servlets/staticfile/541801.jspM/servlets/staticfile/541801.jspB/servlets/staticfile/541801.jsp /servlets/staticfile/541801.jspR/servlets/staticfile/541801.jspe/servlets/staticfile/541801.jsps/servlets/staticfile/541801.jspe/servlets/staticfile/541801.jspa/servlets/staticfile/541801.jspr/servlets/staticfile/541801.jspc/servlets/staticfile/541801.jsph/servlets/staticfile/541801.jsp/servlets/staticfile/541801.jsp - 20 May 2024