Asian stock markets started the week on positive note with Philippines’ PSEi (+0.97%) leading the rally. The local benchmark FBMKLCI (KLCI) surged 10.88pts or 0.67% to end the day at 1,627.50. All sectors closed in positive territory led by construction (+2.46%), telecommunications (+1.53%) and industrial products (+1.52%). Trading volume decreased to 6.98bn (down from 7.23bn on Friday) while trading value eased slightly to RM4.37bn (down from RM4.54bn previously). Market breadth stayed positive as 840 gainers outweighed 460 decliners.

The bulls remained dominant, driving the benchmark to a new 3-year high yesterday (since 2021 on a close basis). Since the key 1,620-1,625 resistances have been taken out, there are minimal barriers ahead until the 1,657-1,660 range. On the downside, 1,610 being the resistance-turned-support followed by the 1,590-1,601 levels if any profit-taking sets in. Following support levels are at 1,582 and 1,565. Our portfolio stays in risk-on mode this week.

Gainers: 840
Losers: 460
Unchanged: 488

DOW: 39,806.77 (-0.49%)
S&P500: 5,308.13 (0.09%)
NASDAQ: 16,794.88 (0.65%)
FTSE100: 8,424.20 (0.05%)
DAX: 18,768.96 (0.35%)
HSI: 19,636.22 (0.42%)
STI: 3,314.05 (0.02%)
KLCI: 1,627.50 (0.67%)
​
USD: 4.6862 (-0.03%)
AUD: 3.1373 (0.59%)
SGD: 3.4820 (0.07%)
EUR: 5.0937 (0.20%)
GBP: 5.9537 (0.36%)
JPY: 2.9997 (-0.41%)
CNY: 0.6478 (-0.14%)
HKD: 0.6010 (0.02%)
​
WTI: 79.80 (-0.32%)
Brent: 83.71 (-0.32%)
GOLD: 2,425.31 (0.42%)
3rd MONTH FCPO: 3,921.00 (0.75%)
Msia 10 yr bond yield: 3.8660 (0.10%)
US 10 yr bond yield: 4.4433 (0.53%)
ICE LIBOR USD 3M: 5.5874 (0.00%)
Bitcoin Futures: 70,470 (3.76%)
Source: Bloomberg

Source: /servlets/staticfile/541952.jsp/servlets/staticfile/541952.jspC/servlets/staticfile/541952.jspG/servlets/staticfile/541952.jspS/servlets/staticfile/541952.jsp-/servlets/staticfile/541952.jspC/servlets/staticfile/541952.jspI/servlets/staticfile/541952.jspM/servlets/staticfile/541952.jspB/servlets/staticfile/541952.jsp /servlets/staticfile/541952.jspR/servlets/staticfile/541952.jspe/servlets/staticfile/541952.jsps/servlets/staticfile/541952.jspe/servlets/staticfile/541952.jspa/servlets/staticfile/541952.jspr/servlets/staticfile/541952.jspc/servlets/staticfile/541952.jsph/servlets/staticfile/541952.jsp/servlets/staticfile/541952.jsp - 21 May 2024