Most Asian stock markets finished lower on Tuesday ahead of a swath of inflation data from Japan, Australia and US. The local benchmark FBMKLCI (KLCI) dropped 2.45pts or 0.15% to end the day at 1,615.82. Most sectors ended in negative territory barring consumer products (+0.12%) which was the only gainer. The worst performing sectors were utilities (-1.70%), telecommunications (-1.18%) and technology (-0.96%). Trading volume fell to 4.87bn (down from 5.64bn on Monday) while trading value eased to RM3.80bn (down from RM3.92bn previously). Market breadth stayed negative three days in a row as 352 gainers thumped by 824 decliners.

The benchmark extended its sideways chop with another black candle in sight. The KLCI stayed below the critical 1,620-1,625 resistance and the support trend line drawn from the 1,532 low in mid-April. The index is likely in its sideways trending mode at the moment. A close below 1,610, however, will confirm that a deeper correction may be needed. IF 1,610 can hold up, then look for further retests of the 1,620-1,625 levels next. The next ceiling would be the 1,657-1,660 range, with a minor resistance seen at 1,642-1,646. Our portfolio stays in risk-on mode this week.

Gainers: 352
Losers: 824
Unchanged: 518

DOW: 38,852.86 (-0.55%)
S&P500: 5,306.04 (0.02%)
NASDAQ: 17,019.88 (0.59%)
FTSE100: 8,254.18 (-0.76%)
DAX: 18,677.87 (-0.52%)
HSI: 18,821.16 (-0.03%)
STI: 3,330.09 (0.35%)
KLCI: 1,615.82 (-0.15%)
​
USD: 4.6900 (-0.14%)
AUD: 3.1229 (0.06%)
SGD: 3.4798 (-0.05%)
EUR: 5.1019 (-0.03%)
GBP: 5.9919 (0.03%)
JPY: 2.9834 (-0.31%)
CNY: 0.6474 (-0.14%)
HKD: 0.6005 (-0.17%)
​
WTI: 79.83 (2.71%)
Brent: 84.22 (1.35%)
GOLD: 2,361.31 (0.44%)
3rd MONTH FCPO: 3,960.00 (2.33%)
Msia 10 yr bond yield: 3.9000 (0.00%)
US 10 yr bond yield: 4.5500 (1.90%)
ICE LIBOR USD 3M: 5.6045 (0.00%)
Bitcoin Futures: 69,215 (-1.62%)
Source: Bloomberg

Source: /servlets/staticfile/543363.jsp/servlets/staticfile/543363.jspC/servlets/staticfile/543363.jspG/servlets/staticfile/543363.jspS/servlets/staticfile/543363.jsp-/servlets/staticfile/543363.jspC/servlets/staticfile/543363.jspI/servlets/staticfile/543363.jspM/servlets/staticfile/543363.jspB/servlets/staticfile/543363.jsp /servlets/staticfile/543363.jspR/servlets/staticfile/543363.jspe/servlets/staticfile/543363.jsps/servlets/staticfile/543363.jspe/servlets/staticfile/543363.jspa/servlets/staticfile/543363.jspr/servlets/staticfile/543363.jspc/servlets/staticfile/543363.jsph/servlets/staticfile/543363.jsp/servlets/staticfile/543363.jsp - 29 May 2024