Asian stock markets finished mixed on Thursday amid the retracement of copper and gold prices. The local benchmark FBMKLCI (KLCI) rose 7.09pts or 0.44% to end the day at 1,629.18. Most sectors closed in the green except for healthcare (-0.29%). Notable gainers were transportation (+1.06%), energy (+1.02%) and utilities (+1.01%). Trading volume increased to 6.16bn (up from 5.43bn on Tuesday) while trading value improved to RM4.68bn (up from RM4.23bn previously). Market breadth turned positive once again as 732 gainers beat 521 decliners.

The benchmark closed at its 3-year high (since 2021 on a close basis) again yesterday after a short break the day before. We see that the index is trying hard to pull away from the 1,620-1,625 levels, which we believe is a critical zone – either as a strong support or resistance to the current uptrend. The next ceiling would be the 1,657-1,660 range, with a minor resistance at 1,642-1,646 if the critical zone of 1,620-1,625 level is taken out. On the downside, 1,610 is the resistance-turned-support level followed by the 1,590-1,601 levels if any profit-taking sets in. Our portfolio stays in risk-on mode this week.

Gainers: 732
Losers: 521
Unchanged: 504

DOW: 39,065.26 (-1.53%)
S&P500: 5,267.84 (-0.74%)
NASDAQ: 16,736.03 (-0.39%)
FTSE100: 8,339.23 (-0.37%)
DAX: 18,691.32 (0.06%)
HSI: 18,868.71 (-1.70%)
STI: 3,322.62 (0.44%)
KLCI: 1,629.18 (0.44%)
​
USD: 4.7038 (0.15%)
AUD: 3.1231 (-0.17%)
SGD: 3.3459 (-0.05%)
EUR: 5.1017 (0.03%)
GBP: 5.9853 (0.21%)
JPY: 2.9964 (0.04%)
CNY: 0.6494 (0.09%)
HKD: 0.6023 (0.12%)
​
WTI: 76.87 (-0.90%)
Brent: 81.36 (-0.66%)
GOLD: 2,329.27 (-2.08%)
3rd MONTH FCPO: 3,894.00 (0.67%)
Msia 10 yr bond yield: 3.8940 (0.41%)
US 10 yr bond yield: 4.4767 (1.24%)
ICE LIBOR USD 3M: 5.5925 (0.02%)
Bitcoin Futures: 68,380 (-5.43%)
Source: Bloomberg

Source: /servlets/staticfile/542478.jsp/servlets/staticfile/542478.jspC/servlets/staticfile/542478.jspG/servlets/staticfile/542478.jspS/servlets/staticfile/542478.jsp-/servlets/staticfile/542478.jspC/servlets/staticfile/542478.jspI/servlets/staticfile/542478.jspM/servlets/staticfile/542478.jspB/servlets/staticfile/542478.jsp /servlets/staticfile/542478.jspR/servlets/staticfile/542478.jspe/servlets/staticfile/542478.jsps/servlets/staticfile/542478.jspe/servlets/staticfile/542478.jspa/servlets/staticfile/542478.jspr/servlets/staticfile/542478.jspc/servlets/staticfile/542478.jsph/servlets/staticfile/542478.jsp/servlets/staticfile/542478.jsp - 24 May 2024