Asian stock markets finished mixed on Wednesday while investors eyed on AI bellwether Nvidia’s earnings release overnight. The local benchmark FBMKLCI (KLCI) closed 5.41pts or 0.33% lower on Tuesday ahead of the Wesak Day holiday. Profit-takings were seen across the board led by plantation (-1.49%), healthcare (-1.41%) and consumer products (-0.79%). On a positive note, technology (+0.55%) and REIT (+0.455) were the only gainers for the day. Trading volume dropped to 5.43bn (down from 6.98bn on Monday) while trading value fell further to RM4.23bn (down from RM4.37bn previously). Market breadth turned negative as 470 gainers underperformed 726 decliners.

The benchmark retraced from its 3-year high (since 2021 on a close basis) with a black candle on Tuesday. The bulls opted to take a breather after 3 consecutive days of gains. 1,610 is the resistance-turned-support level followed by the 1,590-1,601 levels if further profit-taking sets in. Following support levels are at 1,582 and 1,565. On the upside, the strong 1,620-1,625 resistance remains the immediate resistance followed by the 1,657-1,660 range. Our portfolio stays in risk-on mode this week.

Gainers: 470
Losers: 726
Unchanged: 492

DOW: 39,671.04 (-0.51%)
S&P500: 5,307.01 (-0.27%)
NASDAQ: 16,801.54 (-0.18%)
FTSE100: 8,370.33 (-0.55%)
DAX: 18,680.20 (-0.25%)
HSI: 19,195.60 (-0.13%)
STI: 3,307.90 (CLOSED)
KLCI: 1,622.09 (CLOSED)
​
USD: 4.6968 (0.00%)
AUD: 3.1285 (-0.15%)
SGD: 3.4876 (-0.01%)
EUR: 5.1002 (-0.12%)
GBP: 5.9727 (-0.05%)
JPY: 2.9951 (-0.41%)
CNY: 0.6488 (-0.06%)
HKD: 0.6016 (0.05%)
​
WTI: 77.57 (-1.39%)
Brent: 81.90 (-1.18%)
GOLD: 2,378.85 (-1.74%)
3rd MONTH FCPO: 3,868.00 (0.00%)
Msia 10 yr bond yield: 3.8780 (0.00%)
US 10 yr bond yield: 4.4218 (0.22%)
ICE LIBOR USD 3M: 5.5911 (0.00%)
Bitcoin Futures: 72,310 (-0.84%)
Source: Bloomberg

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